Several major crypto bills supported by President Donald Trump failed to pass a key vote in the U.S. House of Representatives on Tuesday. These bills were part of what’s being called “Crypto Week” – a push by lawmakers to bring clearer rules to the digital asset space.
The vote count was 196 in favor and 223 against, with 13 Republicans joining Democrats to block the bills. This was seen as a rare moment of disagreement within the Republican Party, even after Trump publicly urged his party to support the bills earlier that day.
The three bills were the GENIUS Act (a bill focused on stablecoins), the CLARITY Act, and the Anti-CBDC Act to prevent a government-issued digital dollar.
Although the bills were anticipated to proceed, they were surprisingly shut out through a procedural vote. The reason for the failure remains unrevealed, and people in the crypto space and the industry are left in the dark.
Even though the setback occurred, House leaders are to vote on it again later, although it’s not known if the same bills will be utilized or if modifications will be made in an attempt to regain support. Meanwhile, Bitcoin (BTC) reacted slightly, with the price sitting at $117,083, down 2.23% over the last 24 hours.
Also Read: US Crypto Week is Here—Will Congress Make or Break Bitcoin?
