U.S. President Donald Trump says he has successfully convinced nearly all Republican lawmakers who had withdrawn support from three key crypto-related bills to reverse course and back them during Wednesday’s House session.
In a Tuesday post on Truth Social, Trump announced that he had met with 11 of the 12 GOP representatives in the Oval Office, and they agreed to support the legislation after a brief discussion.
“I’m in the Oval Office with 11 out of 12 critical members of Congress — they’ve all committed to vote for the GENIUS Act tomorrow morning,” Trump wrote.
The House had been expected to move forward on the bills Tuesday, but a surprise pullback by 13 Republicans stalled the process. These lawmakers expressed concerns over the absence of a clear ban on central bank digital currencies (CBDCs), which they want to see included in the package.
At the center of the issue is the GENIUS Act, a bill aimed at establishing a regulatory framework for stablecoins. Some Republican members pushed for it to be revised or bundled with two other crypto bills: the Anti-CBDC Surveillance Act, which would prohibit a digital dollar, and the CLARITY Act, a broader effort to structure digital asset regulation.
The effort is part of a Republican-led initiative known as “Crypto Week,” intended to fast-track crypto legislation before Congress recesses for August. Democrats, meanwhile, have launched a counter-campaign dubbed “anti-crypto corruption week” to push back against the bills.
House Speaker Mike Johnson thanked Trump for stepping in to mediate the situation.
“Grateful for President Trump’s involvement tonight to help ensure the GENIUS Act moves forward tomorrow — and for his continued support on advancing more crypto legislation in the days ahead,” Johnson said in a post on X (formerly Twitter).
CBDC Controversy Fuels Division
Among the 13 Republican lawmakers who blocked the vote on Tuesday were Reps. Andy Biggs, Marjorie Taylor Greene, Chip Roy, Victoria Spartz, and others. They emphasized that they aren’t opposed to crypto regulation but want an explicit CBDC ban included.
Greene posted, “I voted NO because the GENIUS Act lacks a ban on central bank digital currency, and leadership denied us the chance to introduce amendments.”
Rep. Biggs also voiced concerns that the GENIUS Act leaves room for a potential layered CBDC system and lacks guaranteed rights to self-custody. “There must be an open amendment process so members can strengthen this legislation,” he stated.
Trump previously addressed the CBDC issue in a January executive order, which barred the Federal Reserve from developing a U.S. central bank digital currency.
Disagreement on Legislative Strategy
According to Politico, Speaker Johnson noted that while passing all three bills is a joint priority of the House, Senate, and White House, they might need to be passed individually to secure Senate approval.
Republicans who resisted the vote had pushed for the bills to be merged, but Johnson indicated that such bundling could hinder their passage in the Senate.
“Everyone agrees we need all three,” Johnson reportedly said, “but some insist they have to come as a package.”
House Gears Up for Wednesday Vote
The House is set to reconvene Wednesday morning for legislative business, including renewed debate on the crypto bills.
Custodia Bank CEO Caitlin Long tried to calm concerns over Tuesday’s failed vote. “Don’t panic — remember, the Senate’s first vote on the GENIUS Act also failed. It passed 11 days later,” she noted on X.
The GENIUS Act ultimately cleared the Senate in June with bipartisan backing, though it initially failed a cloture vote in May due to Democratic resistance related to Trump’s deepening involvement in crypto advocacy.
Eleanor Terrett, host of the Crypto in America podcast, added that the current version of the GENIUS Act already blocks the Fed from launching a retail CBDC, noting a clause that restricts it from providing direct services like wallets or personal accounts to the public.
Download the FREE Bitcoin Mining eBook
Kickstart your mining journey with essential insights:
https://bitmernmining.com/landing-page-ebook-download/
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
