Cryptocurrency bills expected to be voted on in the US House of Representatives this week have been postponed due to a procedural vote failure.
In today’s vote, a proposal that would have paved the way for discussion of three important cryptocurrency bills was rejected by 223 “no” votes to 196. According to parliamentary sources, a retry is scheduled for midnight the same day.
During what has been dubbed “Crypto Week,” two major bills were on the House agenda: the National Innovation Guidelines and Establishment for U.S. Stablecoins Act (GENIUS) and the Digital Asset Market Openness Act (Clarity). The GENIUS bill has already passed the Senate and is expected to reach President Trump’s desk by the end of the week.
The GENIUS law stipulates that stablecoin issuances must be fully collateralized only by US dollars or similar liquid assets, requires annual audits for issuers with a market capitalization over $50 billion, and establishes rules for overseas stablecoin issuance.
The Clarity Act, meanwhile, aims to clarify the regulatory framework for crypto assets by offering a more comprehensive approach. It clarifies the roles and jurisdictions of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), as well as requiring digital asset service providers to notify individual investors and segregate client funds from company assets.
A vote was also expected in the House this week on a bill spearheaded by House Republican Deputy Chairman Tom Emmer, which aims to block the direct issuance of Central Bank Digital Currency (CBDC) to individuals.
However, the procedural vote failed after 12 Republicans, including Marjorie Taylor Greene, Chip Roy, Michael Cloud, and Anna Paulina Luna, voted “no.” House Speaker Mike Johnson stated that some opposition lawmakers had demanded that all crypto bills be merged into a single text.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/just-in-three-major-cryptocurrency-bills-expected-to-be-legislated-in-the-usa-stalled-voting-negative-here-are-the-details/