Trump Strikes Deal to Halt Republican Revolt Against Crypto Bills

By AdamNovocaine | This is interesting | 16 Jul 2025


a6ddd0607f60976e64d7f9fa7ae8c6183a48b437356924b21c6bcbb28788ddf8.jpgU.S. President Donald Trump stated that he managed to persuade most Republicans who had previously refused to vote for three cryptocurrency-related bills. According to him, they are now ready to support the initiatives during the House of Representatives session on Wednesday.

Trump wrote on his Truth Social platform that he met with 11 of the 12 key members of Congress in the Oval Office and secured their votes.

“I’m now in the Oval Office with 11 of the 12 Congressmen whose votes were missing for the GENIUS Act to pass. After a short conversation, they all agreed to vote for the rule tomorrow morning,” he noted.

Tuesday’s vote on the crypto bills was canceled after 13 Republicans declined to support it. The main reason was the absence of a direct ban on digital currencies issued by the Federal Reserve.

Part of the party demanded amendments to the GENIUS Act, which addresses stablecoins. Some wanted to introduce changes, while others sought to combine it with two other initiatives: the anti-digital dollar bill and the comprehensive CLARITY Act aimed at regulating the crypto market. All three bills are scheduled for review this week.

This series of votes is part of a Republican initiative called “Crypto Week” — an effort to pass legislation before Congress's August recess. Democrats, in turn, announced their own campaign: “Anti-Crypto Corruption Week,” aimed at opposing all three bills.

“I’m grateful to President Trump for stepping in tonight and helping secure the GENIUS Act’s passage tomorrow. He also confirmed that he will support us in advancing other crypto bills in the coming days,” wrote House Speaker Mike Johnson on X.

Bills Stall Amid Digital Dollar Disputes

House Majority Leader Steve Scalise and 12 other Republicans voted against advancing the crypto bills on Tuesday. Among them were Andrew Clyde, Tim Burchett, Andy Biggs, Eli Crane, Michael Cloud, Marjorie Taylor Greene, Andy Harris, Anna Paulina Luna, Scott Perry, Victoria Spartz, Chip Roy, and Keith Self.

A revote on the bills’ advancement was expected, but the House adjourned without making any decisions.

After the vote, representatives Biggs, Burchett, Greene, Luna, and Spartz explained on X that they do not oppose the crypto bills themselves. However, they believe it is unacceptable to pass the GENIUS Act without a clear ban on a central bank digital currency (CBDC).

“I voted against the GENIUS Act rule because it lacks a ban on the Federal Reserve’s digital dollar and because Speaker Johnson didn’t allow us to propose amendments,” said Marjorie Taylor Greene.

Andy Biggs expressed concerns that the bill contains language allowing for gradual implementation of a digital dollar and lacks self-custody guarantees. He called for amendments.

“Leadership must allow amendments. Let everyone speak up and offer ways to improve the bill,” he said.

Notably, Trump had already signed an order in January banning the Fed from developing its own digital dollar.

Number of Bills Creates Additional Tension

According to Politico, House Speaker Mike Johnson previously said he hoped to bring a procedural vote on the crypto bills to the floor on Wednesday. He added that passing these initiatives is “a priority for the White House, Senate, and House.”

At the same time, he emphasized that “they will have to be considered one by one,” as otherwise the Senate may block the entire package.

Johnson also continues negotiations with Republicans who voted against moving the initiatives forward. The situation is complicated by the fact that some insist on merging all three bills into a single package.

“It seems everyone agrees that all three need to pass, but some believe it should be done as a single comprehensive package,” he explained.

House Will Resume Voting Wednesday

The next House session is scheduled for Wednesday. The agenda includes morning debates and other legislative matters.

Caitlin Long, founder and CEO of Custodia Bank, posted on X Tuesday, urging people not to panic over the initial failure of the bills. She reminded followers that the GENIUS Act had faced a similar scenario in the Senate.

“BEFORE YOU PANIC, remember: the first procedural vote in the Senate on the GENIUS Act also failed... the second passed 11 days later,” she wrote.

The GENIUS Act passed the Senate in June with bipartisan support, but in May, it failed to reach a vote — Democrats blocked its progress over concerns about Trump’s growing ties to the crypto industry.

Meanwhile, Eleanor Terrett, host of the Crypto in America podcast, reminded readers that the GENIUS Act already includes a ban on the Fed issuing a retail digital currency.

“The bill clearly states that it cannot be interpreted as expanding the Fed’s powers to provide services directly to the public. This means a ban on digital wallets, personal accounts, and anything resembling a CBDC,” she explained.

How do you rate this article?

17


AdamNovocaine
AdamNovocaine

Just a guy who needs a few extra dollars My telegram channel https://t.me/AdamNovocaine


This is interesting
This is interesting

Interesting news from the world of cryptocurrency

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.