U.S. House Rejects Cryptocurrency Regulation Bill

The U.S. House of Representatives blocked cryptocurrency regulation bills in a procedural vote on July 16. This decision involved 196 votes in favor and 222 against, where political tensions played a significant role.

The rejection of these bills has raised uncertainty in cryptocurrency markets, given the bills aimed at regulating stablecoins and digital market structures. House vote record for issue 2025195.

House Vote Stalls Stablecoin Regulation Proposal

The U.S. House of Representatives’ procedural vote blocked three key cryptocurrency bills, sparking a political standoff. Speaker Mike Johnson is seeking compromise, and discussions remain ongoing. Among others, President Donald Trump expressed dissatisfaction with the decision. The focus of these bills included the GENIUS Act and the CLARITY Act, targeting stablecoin regulations and digital asset market structures.

The vote halted anticipated regulatory changes, leaving existing uncertainties unaddressed. Market participants expected clearer frameworks for stablecoins like USDT and USDC. Without these regulations, compliance and operational challenges persist. This situation led to a cautious stance among industry stakeholders.

Major politicians and industry voices reacted strongly to this decision. Key figures like Rep. Marjorie Taylor Greene cited concerns around CBDCs as reasons for her opposition. Meanwhile, the market reaction has been mixed, with affected assets showing volatility.

Market Anxiety Grows Amidst Legislative Uncertainty

Did you know? The last procedural stalemate in 2021 saw Tether (USDT) facing a brief dip, reflecting market anxiety over crypto regulations.

Based on data from CoinMarketCap, Tether (USDT) maintains stability with a current price of $1.00, a market cap of formatNumber(159901556929, 2), and a 24-hour trading volume of formatNumber(144759278482, 2). Price changes over different periods show minimal fluctuation, except for a 3.06% rise over 90 days.

Financial and regulatory outcomes remain uncertain, according to Coincu research. Market uncertainty persists as new bills faced backlash, highlighting the complex interplay between regulation and innovation in crypto sectors. Key stakeholders await future legislative actions, which could significantly shape the industry’s trajectory.

Speaker Mike Johnson, Speaker of the House, commented, “It’s a priority of the White House, the Senate and the House to do all of these crypto bills.” He confirmed ongoing negotiations with Republican holdouts.