House Passes Three Major Crypto Bills After 10-Hour Standoff

The U.S. House of Representatives passed House Resolution 580 with a narrow 217-212 vote on Wednesday, marking a significant milestone in the legislative process for three major cryptocurrency bills. This vote concluded a nearly 10-hour procedural standoff, the longest in House history, which had begun the previous day when eight conservative Republicans initially blocked the legislation.

The impasse was resolved when House leadership agreed to attach the Anti-CBDC Surveillance State Act to the National Defense Authorization Act (NDAA). This move ensured that the prohibition on central bank digital currencies (CBDCs) would pass with the must-pass defense bill, addressing conservative concerns and securing the support of the eight holdout Republicans.

House Majority Whip Tom Emmer (R-Minn.) expressed satisfaction with the outcome, stating that attaching the Anti-CBDC Surveillance State Act to the NDAA would prevent unelected bureaucrats from trading Americans' financial privacy for a surveillance tool akin to those used by the Chinese Communist Party. This development clears the path for final votes on three key bills: the GENIUS Act, which regulates stablecoins; the CLARITY Act, which addresses market structure; and the Anti-CBDC Surveillance State Act.

The vote has been met with optimism within the crypto industry, with supporters highlighting the much-needed clarity it provides. Steven Goldfeder, CEO of Offchain Labs and creator of Arbitrum, noted that regulatory uncertainty has been a significant deterrent for major institutions. He believes that a legislative framework signals to the market that cryptocurrency technology is here to stay and deserves real governance within a trusted structure.

The breakthrough in negotiations came after President Donald Trump intervened at the final moment, expressing satisfaction with the deal reached in House Speaker Mike Johnson's office. This intervention was crucial in convincing the holdout Republicans to support the measure. House Majority Leader Steve Scalise's (R-La.) schedule listed the crypto bills under "Legislation Considered Pursuant to a Rule," indicating that the bills are now officially ready for final floor votes under the terms set by the procedural rule that just passed.

The GENIUS Act is scheduled for a floor vote on Thursday and could become the first major crypto bill ever signed into law. The CLARITY Act vote may be pushed to early next week. The agreement satisfied most Republican concerns, though Rep. Marjorie Taylor Greene (R-Ga.) maintained her opposition despite party pressure, tweeting that she would not vote for what she referred to as the "mark of the beast system."

On Tuesday, the House had voted 196–223 against advancing the rule, with 12 Republicans defecting and objecting to the GENIUS Act’s perceived ambiguity on CBDCs. Following that defeat, Trump summoned the holdouts to the White House and announced that he had convinced them all to support the measure. The Wednesday proceedings saw an initial vote that appeared to succeed at 215-211, only for the same Republican holdouts to retract their support and leave the House floor for prolonged negotiations with party leadership.