On July 17, the House failed to advance key cryptocurrency bills, including the GENIUS Act, amid a controversial stablecoin debate and potential merger with anti-CBDC legislation.
On July 17, the U.S. House of Representatives failed to reach consensus on three critical cryptocurrency bills, including the GENIUS Act. A motion to reconsider debate rules passed narrowly with 217-215, but the final vote saw 210 in favor and 218 against. Republicans need to flip at least four votes to advance the legislation. The stablecoin bill faced controversy, particularly regarding the Senate's GENIUS Act, and reports suggest President Trump agreed to merge anti-CBDC legislation with the Clarity Act, potentially jeopardizing Democratic support.