Nikolas Sargeant
The U.S. House of Representatives ended a historic nine-hour voting stalemate late Wednesday to advance three major cryptocurrency bills after Republican hardliners agreed to a compromise on central bank digital currency restrictions. The procedural vote, which lasted longer than any in House history, finally passed 217-212 after House Majority Leader Steve Scalise promised to include a CBDC ban in the must-pass National Defense Authorization Act instead of tying it directly to the crypto legislation.
The breakthrough came during what Republican leaders dubbed "Crypto Week," with plans to pass the CLARITY Act for crypto market structure, the Anti-CBDC Surveillance Act, and the GENIUS Act for stablecoin regulation. President Trump has expressed interest in signing the GENIUS Act before the weekend, though Speaker Mike Johnson indicated votes on other bills could be pushed to Friday or next week. The stalemate began when Republican holdouts, including Representative Keith Self, refused to support the measures without guarantees that CBDC restrictions would pass.
The compromise represents a significant shift in strategy for House leadership, which had initially sought to package the bills together but faced resistance from hardline Republicans concerned about potential backdoors to CBDCs. Representative Tim Burchett, who initially opposed the bills, confirmed that negotiations centered on moving the CBDC ban to the defense spending bill, which historically passes with bipartisan support. The earlier delays highlighted the deep divisions within the Republican caucus over CBDC policy. The GENIUS Act specifically states it should not be interpreted as expanding Federal Reserve authority to offer direct public services.
The marathon vote broke the previous record set earlier this month during deliberations on Trump's tax and spending legislation, highlighting the contentious nature of cryptocurrency policy in the new Congress. With the procedural hurdle cleared, the House is now positioned to vote on individual crypto bills, potentially marking a watershed moment for digital asset regulation in the United States. The compromise strategy may also provide a template for future crypto legislation by separating market structure reforms from more controversial CBDC restrictions.
