A Dramatic Day in the House
On Tuesday, a procedural vote to advance the GENIUS Act, the Digital Asset Market Clarity Act, and the Anti‑CBDC Surveillance State Act failed. The vote was blocked 196–223 when a group of 13 Republicans joined Democrats to halt the motion (Barron’s, Reuters). Major concerns included disagreements on whether to bundle bills and how to preclude a government-issued digital dollar.
Trump Backs In—and the Momentum Shifts
Later that evening, Trump hosted a meeting at the White House with 11 GOP lawmakers, including Speaker Mike Johnson, to hammer out an agreement. He posted on Truth Social:
“After a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule.”
Trump’s involvement seems to have swayed the necessary votes, and lawmakers are expected to revisit the procedural motion this morning.
What the Bills Do
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GENIUS Act: Sets federal guardrails for stablecoins—requiring asset backing and monthly reserve reports.
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Clarity Act: Defines whether digital tokens fall under SEC or CFTC authority.
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Anti‑CBDC Surveillance State Act: Bans issuance of a central bank digital currency by the Federal Reserve (Reuters, The Washington Post, Barron’s.
Supporters say this will increase regulatory certainty and invite mainstream adoption, while critics warn that consumer safeguards may be sacrificed for industry gain.
Market Reactions: Bitcoin & Crypto Stocks Respond
Crypto markets rallied in anticipation: Bitcoin surged past $120,000, driven by optimism that these bills could institutionalize stability in the market (Financial Times, Reuters). Key crypto stocks fared well too—Coinbase, MicroStrategy, and Circle rallied on the news, while sentiment remained fragile amid procedural uncertainties.
Why Trump’s Role Still Matters
This legislative revival underscores how Trump remains influential in shaping crypto policy. He’s branded himself the “Crypto President,” backing these bills as part of his broader agenda to position the U.S. as a leader in digital finance (Barron’s). His intervention also highlights how narrow bipartisan margins make legislation fragile—and deeply personal.
What to Keep an Eye On
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Procedural Vote This Morning: Will Trump’s late-night push deliver?
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Packaging vs. Standalone Passage: Will Congress follow GOP leaders’ preferred path?
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Market Ripple Effects: A successful vote could send BTC and sector stocks higher.
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Consumer Protection Signals: Watch whether amendments are added to protect everyday users.
