Trump Rescues Crypto Week After GOP Revolt

A planned "Crypto Week" in the U.S. House of Representatives, intended to advance three crypto-related bills, faced a setback when a procedural vote failed due to opposition from some Republican representatives who were concerned about central bank digital currencies (CBDCs). The bills included the GENIUS Act focused on stablecoin regulation, the Clarity Act clarifying regulatory oversight of digital assets, and the Anti-CBDC Surveillance State Act restricting the Federal Reserve's ability to implement a digital dollar. Former President Trump intervened by meeting with the dissenting Republicans and securing their support for a revote on the procedural measure. While this hurdle was overcome, Democrats still oppose the legislation, citing concerns about Trump's connections to the crypto industry.