House Passes Key Crypto Bills After Nine-Hour Stalemate

The U.S. House of Representatives has successfully navigated through a tumultuous week of negotiations and voting, ultimately advancing key cryptocurrency bills. The House voted 217-212 to move forward with a trio of cryptocurrency bills, which include the stablecoin GENIUS Act, the crypto market structure Clarity Act, and a bill to ban central bank digital currency (CBDC). This development comes after intense negotiations and a record-breaking nine-hour stalemate among House Republicans.

The passage of these bills was not without its challenges. Initially, the House faced a revolt from 12 hard-line conservatives, which threatened to derail the entire process. However, after President Trump's intervention and approval, the CBDC ban was separated into a defense package, paving the way for the advancement of the key crypto bills. This strategic move allowed the House to overcome the impasse and proceed with the legislation.

The crypto community and industry stakeholders have been closely monitoring these developments, with some groups expressing concerns that the new rules could lead to an underregulated U.S. banking sector. Despite these worries, the House's actions signal a significant step forward in shaping the digital asset industry in the U.S. The bills aim to provide clarity and structure to the crypto market, which has long been criticized for its lack of regulatory oversight.

The passage of these bills is a testament to the House's commitment to advancing crypto legislation, despite the challenges and setbacks encountered during the process. The successful navigation of "Crypto Week" demonstrates the House's ability to work through complex negotiations and reach a consensus on critical issues. As the bills move forward, the focus will now shift to the Senate, where further debates and amendments are expected before the legislation can be finalized.

Speaker Mike Johnson is now working behind the scenes with Republican committee chairs and conservative dissenters to salvage momentum around the crypto legislation. Now, to avoid a collapse, negotiators are exploring alternative routes, possibly moving the CBDC provision into other must-pass legislation, like the annual defense bill or the reauthorization of surveillance powers. Meanwhile, over a dozen GOP lawmakers, including Agriculture Chair and Financial Services Chair, have yet to vote on the procedural rule.

Following extended closed-door negotiations, the House on 16th July passed three cryptocurrency-related bills and the 2026 defense budget in a tight 217–212 vote. The breakthrough came after GOP hard-liners dropped their opposition, ending a tense standoff with committee leaders who crafted the legislation. This move was opposed by Financial Services Chair and Agriculture Chair over fears it would kill Democratic support. An agreement was ultimately reached, with GOP leaders deciding to link the CBDC prohibition to a standalone defense authorization measure. President Trump was briefed on the last-minute agreement and gave it his approval.

House Speaker Johnson hailed the breakthrough, saying, “This breaks the logjam, allows us to get our work done.” Johnson also spoke with Senate Republican Leader about incorporating the CBDC ban into the National Defense Authorization Act (NDAA). With the procedural vote now behind them, the House is set to move forward on the crypto bills in the coming days. Speaker Johnson signaled that the House is likely to vote on the Senate-backed GENIUS Act, which centers on stablecoin oversight, as early as the 17th of July. If passed, it would mark the first major crypto legislation to reach President Trump’s desk, a significant win for the industry. The cleared procedural path will also enable swift action on an amended package of spending rescissions requested by Trump. Now, as the House settles its crypto standoff, the Senate continues pushing to pass the rescissions package ahead of the deadline on the 18th of July.