Crypto Week Stalls: US House Halts Procedural Vote on Landmark Stablecoin Bills

Uncover insights within the Bitcoin house. This article dives into: “Crypto Week Stalls: US House Halts Procedural Vote on Landmark Stablecoin Bills”.

• House vote fails 196–223, blocking development of GENIUS and Clarity Acts.
• Freedom Caucus Republicans opposed the rule over CBDC considerations and lack of modification alternative.
• US$9.4B (AU$14.4B) clawback in defence invoice additionally delayed, including urgency earlier than Friday’s funding deadline.

The US House of Representatives abruptly cancelled a deliberate vote on Tuesday to advance three crypto associated payments, together with the GENIUS and Clarity Acts, in addition to the fiscal 2026 Defense spending measure. The House voted 196–223 in opposition to a procedural rule governing debate on the payments and the House Press Gallery web site confirmed that no additional votes would happen that day, contradicting earlier expectations of a 5pm re-vote.

The failed vote was triggered by inner Republican dissent, significantly from House Freedom Caucus members who opposed the GENIUS Act, regardless of it already passing the Senate. The laws would implement strict stablecoin regulations, requiring reserves in US {dollars} or extremely liquid belongings and introducing audits for big issuers exceeding US$50 billion (AU$76.7 billion) in worth. 

This vote was supposed as a part of “Crypto Week,” a Republican-led initiative to go main digital asset laws in fast succession.

Conservative lawmakers, together with Representative Marjorie Taylor Greene, opposed the invoice because it didn’t replicate President Trump’s government order calling for a ban on CBDCs. Speaker Mike Johnson’s refusal to permit amendments contributed to the rebel, which successfully sidelined progress on the broader crypto legislative agenda.

People, together with the House Freedom Caucus, consider that central financial institution digital forex – we’ve got to place a stake in its coronary heart as soon as and for all, and the motion underneath that rule wouldn’t have performed it.

Andy Harris, House Freedom Caucus Chair

Related: BoE’s Andrew Bailey Hits the Brakes on Bank-Issued Stablecoins, Bets on Tokenised Deposits

Next Steps for Regulatory Framework in Doubt

The Clarity Act was designed to overtake the US crypto regulatory panorama, delineating tasks between the SEC and CFTC and implementing transparency necessities for digital asset companies. Although the invoice has assist from each events, Senate leaders are reportedly contemplating drafting their very own model, probably diverging on important factors just like the maturity take a look at for decentralisation.

Industry representatives have voiced considerations over provisions within the Clarity Act, significantly people who could drawback decentralised finance platforms and restrict self-custody rights. While some lobbyists see it as a step ahead, they’re pushing for clearer language and broader exemptions earlier than the Senate takes motion.

The cancellation additionally stalled a US$9.4 billion (AU$14.4 billion) clawback provision tied to the fiscal 2026 Defense appropriations invoice, which was bundled into the identical House procedural rule governing all 4 payments. 

This clawback request, backed by the Trump administration, should go Congress by Friday to stay legitimate. With the crypto laws and defence funding now paused, lawmakers stay in closed-door talks to achieve a decision. However, no new vote date has been confirmed.

Related: RBA Kicks Off Phase Two of Project Acacia with Wholesale CBDC and Tokenisation Trial

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