- House Republicans moved three crypto bills forward after a nine hour vote standoff over CBDC concerns.
- GOP leaders added a CBDC ban to the NDAA bill to win support and keep the crypto legislation on track.
- The GENIUS and CLARITY Acts may face final House votes this week after being split to ease Senate passage.
House Republican leaders have resolved an internal standoff, enabling three major cryptocurrency bills to proceed. The dispute had stalled progress for over nine hours, marking the longest procedural vote in the House’s history. Eventually, the House voted 217 to 212 late Wednesday to set floor debate for the bills.
The bills include the CLARITY Act for crypto market structure, the GENIUS Act for stablecoin regulation, and the Anti-CBDC Surveillance Act. Republican leaders had named the week “Crypto Week” and aimed to pass all three measures. A group of GOP lawmakers initially refused to support the vote without a clear path to ban central bank digital currencies (CBDCs).
CBDC Ban Shifted to Defense Bill
To break the deadlock, House leaders agreed to move the proposed CBDC ban into the National Defense Authorization Act (NDAA). This bill must pass annually, increasing the likelihood that the CBDC ban will become law.
Speaker Mike Johnson and House Majority Leader Steve Scalise confirmed that the separate crypto bills would move forward individually. They warned that combining them could reduce Senate support. This strategy seeks to prevent Senate rejection and keep progress on schedule. Some lawmakers indicated they may push for CBDC changes in future amendments to the NDAA.
GENIUS Act Draws Criticism from GOP Members
Although the GENIUS Act does not authorize the Federal Reserve to issue a CBDC, some Republicans opposed the bill. They claimed it could provide indirect paths to implement a CBDC. Concerns from these lawmakers led to the initial failed vote on Tuesday, where the House rejected the motion 196 to 223.
Marjorie Taylor Greene was the only Republican to vote with Democrats in opposing the bill. Others, including Reps. Chip Roy and Michael Cloud, also rejected the measure before changes were agreed. Eventually, the holdouts received assurance that the CBDC ban would appear in the NDAA.
House to Vote on Crypto Bills Separately
The House voted to proceed with the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance Act. These bills aim to define regulatory roles between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The GENIUS Act specifically establishes stablecoin regulation.
House leaders expect votes on the GENIUS and CLARITY Acts to occur by Friday. However, Speaker Johnson suggested some votes could extend into next week. None of the House Democrats supported moving the bills forward.
Despite the delay, lawmakers are back on track to deliver a new framework for digital assets. The bills now await final votes before they can head to the Senate.
