US Congress Fails to Pass Cryptocurrency Bills

The US House of Representatives has rejected three cryptocurrency-related bills. A total of 196 members voted in favor, while 223 opposed.

This week, during the “crypto week,” three bills were set for consideration:

• GENIUS Act — establishes rules for stablecoins;
• CLARITY Act — creates a regulatory framework for the entire crypto sector;
• Anti-CBDC Surveillance State Act — prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) for private individuals.

The GENIUS Act has already been approved by the Senate. The document mandates full backing of stablecoins with US dollars or equivalent assets, requires audits for issuers with a capitalization exceeding $50 billion, and sets requirements for issuing such assets abroad.

The CLARITY Act allocates regulatory powers between the SEC and the CFTC in overseeing crypto assets. The bill also requires companies to disclose information to retail clients and to separate client funds from their own assets.

Twelve Republicans opposed the bills, including Marjorie Taylor Greene, Chip Roy, Michael Cloud, and Anna Paulina Luna.

Greene wrote on X that she voted against the GENIUS Act due to its stance on CBDCs.

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.

Americans do not want a government-controlled Central Bank Digital Currency.… pic.twitter.com/NnkeIOH0dE

— Rep. Marjorie Taylor Greene🇺🇸 (@RepMTG) July 15, 2025

“I voted against it because it does not include a ban on central bank digital currency,” she stated.

Trump’s Reaction

US President Donald Trump met in the Oval Office with 11 of the 12 congress members whose votes are needed to pass the law. All participants agreed to vote for the document.

“After a brief discussion, they agreed to vote in favor of the rule tomorrow morning,” the president wrote on Truth Social.

Trump also spoke with House Speaker Mike Johnson, who promised to hold the vote “as soon as possible.”

Following the announcement, House Majority Leader Steve Scalise published a new session schedule. Consideration of the laws will begin on July 16.

Back in June, Federal Reserve Chairman Jerome Powell supported the regulation of stablecoins in the US.