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US ‘Crypto Week’ Becomes Crypto Chaos as Lawmakers Battle Over CBDC

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House Republicans finally reached a deal on Wednesday to advance three crypto bills after a record-breaking nine-hour procedural vote, the longest in House history.

The delay was caused by Republican hardliners who refused to support the measures unless a central bank digital currency (CBDC) ban was guaranteed.

The procedural vote eventually passed 217 to 212 late Wednesday, with House Majority Leader Steve Scalise agreeing to add a CBDC ban to the must-pass National Defense Authorization Act (NDAA) defense spending bill instead of including it with the crypto bills.

Crypto Bills on The Line

Fox Business reporter Eleanor Terrett spoke to a Republican Senate staffer who said:

“We’re just hoping the House can move something, anything, so crypto legislation can survive to the next step. We have options to move forward, but no one wants another failed vote that kills momentum.”

The three crypto bills on the line this week are the CLARITY Act, a crypto market structure bill, the GENIUS Act, stablecoin regulations that President Trump wants passed before the weekend, and the Anti-CBDC Surveillance Act, which seeks to ban the Federal Reserve from issuing a central bank digital currency.

The hardliners expressed concern that the GENIUS Act would create a “back door” for the Fed to issue a CBDC.

Trump personally met with yesterday’s holdouts at the White House to broker a new deal, with House Speaker Mike Johnson participating by phone, according to Fox Business.

House Majority Whip Tom Emmer, a staunch crypto supporter, faced criticism for failing to secure votes. He komentēja:

“Attaching our Anti-CBDC Surveillance State Act to the NDAA will ensure unelected bureaucrats are NEVER allowed to trade Americans’ financial privacy for a CCP-style surveillance tool.”

“Congress needs to stop playing politics with crypto and finally pass responsible regulation,” said Josh Vlasto, spokesperson for Fairshake.

CLARITY and GENIUS Voting Tomorrow

The holdup reflects deeper frustration among House conservatives who are tired of always having to accept Senate versions of bills. The House will vote separately on the GENIUS and CLARITY bills and rescissions on Thursday.

“The plan has always been to have separate votes on GENIUS and CLARITY,” teica . Representative Bill Huizenga before adding, “I am glad cooler heads prevailed and we can now move forward.”

Earlier this week, Republican Representative French Hill warned that not having a regulatory framework such as the CLARITY Act could lead to another FTX-style industry collapse.

Amats US ‘Crypto Week’ Becomes Crypto Chaos as Lawmakers Battle Over CBDC appeared first on CryptoPotato.

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