Catenaa, Wednesday, July 16, 2025-The U.S. House of Representatives has abruptly scrapped all votes scheduled for Tuesday on key cryptocurrency legislation, after a procedural motion failed to gain enough support, throwing the future of the Digital Asset Market Clarity Act and the GENIUS Act into uncertainty.
Lawmakers voted 196 to 223 earlier in the day against a rule that would have advanced debate on the bills. Although a second attempt had been expected by 5 p.m. ET, the House Press Gallery confirmed that no further votes would take place Tuesday.
The canceled vote derails the momentum of “Crypto Week,” which was set to bring sweeping crypto regulation to the floor.
The GENIUS Act, which passed the Senate last month, would mandate that stablecoins be fully backed by U.S. dollars or liquid assets, require audits for large issuers, and set rules for foreign-backed tokens. The Clarity Act aims to establish clear oversight roles for the SEC and CFTC while tightening requirements for retail disclosures and fund segregation.
Sources close to the matter expect the Clarity Act to be taken up today, Wednesday, followed by the GENIUS Act on Thursday.
However, these timelines are now in doubt after opposition from several Republicans, including Reps. Marjorie Taylor Greene and Chip Roy.
