GENIUS Act Stalls in House Vote, Clouding U.S. Crypto Legislation Plans
TLDR
- The U.S. House of Representatives failed to pass a procedural motion needed to advance the GENIUS Act.
- The GENIUS Act along with the CLARITY Act and Anti-CBDC Act was expected to move forward during Crypto Week.
- The vote ended with 196 members in favor and 222 against, blocking the bill’s immediate consideration.
- Some Republican lawmakers opposed the GENIUS Act due to the absence of a complete ban on a central bank digital currency.
- Democrats used the failed vote to criticize Republican leadership and reaffirm their opposition to the GENIUS Act.
Crypto Week faced an unexpected disruption as the U.S. House failed to pass a procedural motion required to advance key crypto bills. The GENIUS Act, CLARITY Act, and…
