Trump cuts deal to end Republican revolt on crypto bills

2025-07-18 18:33:44 Primitive Reading

US President Donald Trump says he has convinced most of the Republican lawmakers who pulled support from three crypto bills to vote in favor of them when the House meets again on Wednesday.

Trump said in a post on his Truth Social platform on Tuesday that he met with 11 of the 12 representatives in the Oval Office and convinced them to vote in favor of the legislation.

“I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” Trump said.

A re-vote on the three crypto bills was canned on Tuesday, as 13 Republican lawmakers pulled support, wanting to add a ban on central bank digital currencies (CBDCs).

Some Republicans wanted the stablecoin-regulating GENIUS Act amended or bundled in with two other crypto bills up for a vote this week — the CBDC-banning Anti-CBDC Surveillance Act and a sweeping crypto market structure bill dubbed the CLARITY Act.

The move to pass the bills is the Republican-led effort dubbed “Crypto Week” to have crypto laws in action before Congress goes on a month-long break in August. Democrats have meanwhile declared an “anti-crypto corruption week” to oppose the bills.

“I’m thankful for President Trump getting involved tonight to ensure that we can pass the GENIUS Act tomorrow, and agreeing again to help us advance additional crypto legislation in the coming days,” House Speaker Mike Johnson posted on X.

CBDC concerns stall legislation

House Majority Leader Steve Scalise joined 12 other Republican lawmakers in voting no on considering the bills on Tuesday. The other dissenters 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.

Another vote to move the bills forward was expected, but the House adjourned before any further action was taken.

Representatives Biggs, Burchett, Green, Luna and Spartz took to X after the vote and said they were not against the crypto bills but didn’t want to pass the GENIUS Act unless it had a specific ban on a CBDC.

“I just voted NO on the Rule for the GENIUS Act because it does not include a ban on central bank digital currency and because Speaker Johnson did not allow us to submit amendments to the GENIUS Act,” Green said.

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