House eyes re-vote on crypto bills after procedural defeat

The House of Representatives of the United States is preparing to try a key procedural vote on Wednesday, July 16, which would allow a debate on the floor on a trio of major cryptocurrency bills, after Gop Hardliners derailed the effort on Tuesday.

As reported By politico, President Mike Johnson confirmed Tuesday Tuesday that the Republicans are trying to resolve internal disagreements after the failure of the 196-222 vote, which interrupted the momentum on the long-awaited legislative package.

The bills proposed include the law on engineering, which aims to regulate stablescoins; The Clarity Act, which would establish rules to determine whether cryptocurrencies are basic titles or products; and the anti-CBDC law on the state of surveillance, which prohibits the issue of a digital currency from the American central bank.

Addressing journalists after the failed vote, Johnson said that the Republicans “still had conversations, answering people’s questions” and expressed that the rule could adopt a second attempt. He stressed that Crypto bills remain “priority of the White House, Senate and Chamber”.

However, internal republican divisions remain a major obstacle. Some conservative legislators push leadership to bring together the three bills in a single legislative set to increase pressure on the Senate, which recently adopted the Act on Engineering with bipartite support.

But Johnson pushed this idea on Tuesday, saying: “We have to do them successively.” A senior republican echoes this point of view, warning that linking bills together would trigger a multitude of problems in the Senate, where a combined package would probably have died on arrival.

Democratic opposition Also played a role in Tuesday’s failure. Legislators have cited concerns about the low protections for consumers and conflicts of potential interests related to companies related to the cryptography of former President Trump, including World Liberty Financial.

The procedural distribution was a surprise during what was presented as a “crypto week” in Capitol Hill, and the benefits were immediate. Bitcoin (BTC) fell below $ 117,000, while Coinbase and Circle saw their shares drop by more than 4% and 7%, respectively.

The market players had watched the room voting closely, especially after the Senate pass Genius acts with bipartisan support last month. The industry hopes that at least the bill on stablescoin will increase, although more controversial proposals, such as anti-CBDC law, can face stronger resistance in the Senate.