US President Donald Trump met with House Republicans on July 15 to win back support for three key cryptocurrency bills after an earlier vote blocked them from moving forward.
The bills, the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act, were meant to be part of what the White House calls “Crypto Week”, but faced resistance during a procedural vote.
The House had voted 196–223 against the resolution that would have allowed debate on the bills.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is Defi 2.0? (Explained with Animations)
That vote reflected concerns among some Republicans that the GENIUS Act did not go far enough to stop the Federal Reserve from creating a central bank digital currency (CBDC).
President Trump invited a group of Republicans who opposed the resolution to the Oval Office. After their discussion, he announced on Truth Social that 11 of the 12 members agreed to support the rule when it comes up for a new vote on July 16.
The Republicans who had voted against the bills included Ann Paulina Luna of Florida, Scott Perry of Pennsylvania, Chip Roy, Michael Cloud, and Keith Self of Texas, Victoria Spartz of Indiana, Andrew Clyde, Marjorie Taylor Greene, and Andy Biggs of Georgia, Eli Crane of Arizona, Andy Harris of Maryland, and Tim Burchett of Tennessee.
Meanwhile, the Securities Industry and Financial Markets Association (SIFMA) recently urged the Securities and Exchange Commission (SEC) to reject crypto firms’ plans to issue tokenized stocks under relaxed rules. What did the agency say? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
