Crypto Week in Congress has hit a major roadblock as the GENIUS Act—the proposed stablecoin regulation bill—gets stalled in the House. Originally set for a high-profile vote amid optimism, it now faces internal party conflict that could delay U.S. stablecoin regulation and shake market confidence.
What Just Happened?
House Republicans, who branded this week “Crypto Week,” blocked a procedural motion needed to bring the GENIUS Act (alongside companion bills) to a floor vote. A group of Republicans joined Democrats in opposing the move, leading to a 196–223 defeat. That single vote effectively halts the bill’s progress—and key votes on other crypto reforms—until consensus is reached on how to package the legislation.
Why the Setback Matters
- Stablecoin uncertainty: The GENIUS Act aims to usher in clearer rules for U.S. dollar–backed stablecoins, including full reserve backing, audits, and oversight. Its delay pushes regulation further out.
- Market reaction: With legislative momentum stalled, crypto markets—especially stablecoin issuers—saw price pressure and shaken investor sentiment.
- Legislative turf wars: The debate over packaging the bills—whether to vote on each individually or as a bundle—exposes deep procedural and strategic differences within the GOP.
Trump Steps In
Former President Trump quickly intervened, claiming to have secured verbal support from 11 of 12 lawmakers needed to bring the GENIUS Act to a vote. He expressed confidence that a clean vote would happen imminently, reflecting his continuing influence over crypto policy and backed campaign intentions.
What Comes Next?
The House now faces a critical choice:
- Hold another procedural vote on the same package
- Split bills and vote on stablecoin regulation separately
- Revisit negotiations, possibly merging with alternative proposals before the August recess
If timed correctly, passage could occur before lawmakers exit or risk delay until later in the year.
Impact on Crypto Investors
- Delayed clarity: No clear stablecoin rules mean issuers and investors remain in limbo.
- Short-term volatility: Markets remain sensitive to U.S. policy unpredictability.
- Long-term stakes: The GENIUS Act remains the most significant U.S. attempt at comprehensive stablecoin legislation—and its fate could shape future adoption and institutional investment.
The stalled vote on the GENIUS Act highlights the messy reality of crypto policymaking. With internal disagreement and procedural obstacles, its pathway to law is uncertain. Yet with high-level intervention—including direct influence from Trump—the issue remains alive. Stablecoin users, investors, and issuers should prepare for continued drama and shifting timelines.
The GENIUS Act’s House vote is delayed as Republicans clash over procedural strategy. What this means for U.S. stablecoin regulation, Crypto Week, and market stability.
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