'Crypto Week' Is Stuck Again as House Procedural Vote Drags On

The U.S. House of Representatives is experiencing delays in voting on key cryptocurrency legislation this week. A procedural vote needed to advance the Clarity Act, GENIUS Act, and Anti-CBDC Surveillance Act faced unexpected resistance, primarily due to disagreements within the House Freedom Caucus regarding the stablecoin bill (GENIUS Act). The House Freedom Caucus expressed concerns about the lack of input on the stablecoin bill. Former President Trump reportedly intervened, negotiating a deal to merge the anti-CBDC bill with the Clarity Act to gain support, a move that could potentially alienate some Democrats. The House had planned to vote on the market structure bill (Clarity Act) by Wednesday and the stablecoin bill by Thursday, but the procedural delays have jeopardized that timeline.