Donald Trump Rallies House Republicans to Push Crypto Bills Back on Track

The bills, the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act, were meant to be part of what the White House calls "Crypto Week", but faced resistance during a procedural vote.

The House had voted 196–223 against the resolution that would have allowed debate on the bills.

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That vote reflected concerns among some Republicans that the GENIUS Act did not go far enough to stop the Federal Reserve from creating a central bank digital currency (CBDC).

President Trump invited a group of Republicans who opposed the resolution to the Oval Office. After their discussion, he announced on Truth Social that 11 of the 12 members agreed to support the rule when it comes up for a new vote on July 16.

The Republicans who had voted against the bills included Ann Paulina Luna of Florida, Scott Perry of Pennsylvania, Chip Roy, Michael Cloud, and Keith Self of Texas, Victoria Spartz of Indiana, Andrew Clyde, Marjorie Taylor Greene, and Andy Biggs of Georgia, Eli Crane of Arizona, Andy Harris of Maryland, and Tim Burchett of Tennessee.

Meanwhile, the Securities Industry and Financial Markets Association (SIFMA) recently urged the Securities and Exchange Commission (SEC) to reject crypto firms’ plans to issue tokenized stocks under relaxed rules. What did the agency say? Read the full story.