Crypto Bills Blocked in House After GOP Revolt \ Newslooks \ Washington DC \ Mary Sidiqi \ Evening Edition \ Three major cryptocurrency bills stalled in the House after 13 Republicans joined Democrats to block a procedural vote. The setback halted a week of expected crypto-focused legislation championed by Donald Trump. Disputes over bill packaging and strategy have left the legislation in limbo.
Quick Looks
- 13 Republicans joined Democrats to block crypto bills from advancing
- Legislation includes stablecoin regulation and anti-CBDC measure
- Trump pressured GOP to pass bills, calling for unity
- Some Republicans demand all three bills be packaged together
- House Speaker Mike Johnson said negotiations were ongoing
- Trump-linked crypto project could benefit from stablecoin bill
- Senate-passed stablecoin bill would not restrict presidential profit
- Crypto PAC Fairshake pledges $140M for 2026 elections
- Coinbase exec criticizes political delays and mixed messaging
- Legislation delay could impact investor confidence and industry momentum
Deep Look
Efforts to pass landmark cryptocurrency legislation in the House of Representatives came to an abrupt halt Tuesday, as internal divisions within the Republican Party derailed a carefully planned series of votes. Dubbed “crypto week” by lawmakers and industry insiders, the initiative collapsed after 13 Republicans sided with Democrats to block a crucial procedural vote that would have allowed debate and voting on three major cryptocurrency bills.
This surprise move delivered a blow to former President Donald Trump, who had thrown his full support behind the legislative push, urging Republicans to fast-track the bills as part of his plan to make the United States the “crypto capital of the world.”
The procedural breakdown stopped the House from even debating the bills, let alone voting on them. Speaker Mike Johnson (R-La.) tried to downplay the setback, calling it part of the “legislative process” and noting that talks were underway with the Senate and White House. “We expected there might be some ‘no’ votes, but we thought it was important to put it on the floor to advance it because time’s of the essence on this,” Johnson told reporters. He hinted the vote might be attempted again later that evening—but just hours later, leadership canceled all remaining votes for the day.
What Was in the Crypto Bills?
The trio of bills included:
- A Senate-passed bill regulating stablecoins, digital assets pegged to fiat currencies
- A broader market structure bill defining regulatory oversight and exchange rules
- A ban on central bank digital currency (CBDC) development by the Federal Reserve
The stablecoin bill is the most time-sensitive, having already cleared the Senate after more than six weeks of negotiation. Supporters hoped it could land on Trump’s desk before Congress leaves for August recess. However, some Republican lawmakers insisted that all three bills be passed together as a package, citing doubts about the Senate’s willingness to pass the two remaining bills later.
Rep. Glenn Thompson (R-Pa.), a co-sponsor of the market structure bill, said the push to combine the bills came from concerns about Senate follow-through. “Some of the Republicans wanted to package the bills together due to them not having a lot of faith in the Senate moving our legislation,” he explained.
But packaging the bills would require a return trip to the Senate, risking delays that could kill the effort before recess. Trump and GOP leadership, including Speaker Johnson, pushed for individual passage to avoid that bottleneck.
Trump’s Crypto Ties and Political Fallout
Trump added public pressure with a Tuesday morning social media post encouraging Republicans to “vote YES” on the crypto bills that afternoon. By evening, following the failed vote, he told reporters that the Republicans who voted against the motion were doing so because they “wanted it to be stronger.”
But Trump’s enthusiasm for the legislation isn’t purely ideological. He and his family reportedly stand to profit from the growth of stablecoins, thanks to investments in World Liberty Financial, a Trump-linked crypto venture behind a recently launched stablecoin, USD1. The stablecoin bill includes provisions barring members of Congress and their families from profiting off such assets — but that restriction does not apply to the president or their family.
Critics say the omission raises ethical questions about whether Trump’s policy push aligns with public interest or private profit. Still, for much of the cryptocurrency industry, passage of the bill is seen as a chance to gain legitimacy and restore investor confidence after a tumultuous regulatory year.
Industry Response and Political Implications
The delay caught many in the crypto world off guard. The industry had invested heavily in building bipartisan support during the 2024 election cycle, helping elect dozens of pro-crypto lawmakers. Groups like Fairshake, a crypto super PAC, are already laying groundwork for 2026, with $140 million on hand to influence races.
Josh Vlasto, spokesperson for Fairshake, condemned the legislative delay. “The voters last year were clear — Congress needs to stop playing politics with crypto and finally pass responsible regulation,” he said. “We are building an aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country.”
Coinbase, the largest U.S.-based crypto exchange, also weighed in. Chief policy officer Faryar Shirzad noted the frustrating stop-start nature of crypto policy in Washington. “Every few steps forward there’s inevitably a step back,” he said in a social media post. “It’s in these moments we’ll see who is trying to get pro-crypto legislation done and who is not.”
With time ticking down before Congress’s summer recess, it remains unclear whether House Republicans can resolve internal disputes in time to revive the legislation. And with Trump and the crypto industry both watching closely, the next moves could carry major political and financial consequences for the Republican Party heading into 2026.
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