The US Congress makes another attempt to advance three key cryptocurrency bills after a planned vote was canceled due to internal disagreements among Republicans.
Attempt to Ban CBDC
Several Republicans want the stablecoin-regulating GENIUS Act amended to include a CBDC ban or bundled with two other bills: the Anti-CBDC Surveillance Act and the CLARITY Act. House Speaker Mike Johnson noted that the Senate would not pass the bills if tied together.
Efforts to Advance Bills Before August Recess
This renewed push is part of the GOP's 'Crypto Week' initiative to pass crypto regulations before Congress leaves for its August recess. Speaker Johnson is in discussions with Republican holdouts to move the legislation forward despite disagreements.
Internal Republican Discussions
Internal disputes among Republicans led to the blocking of the procedural vote. House Majority Leader Steve Scalise and 12 Republicans opposed the procedural vote. Some lawmakers like Andy Biggs and Marjorie Taylor Greene insist on adding a clear CBDC ban within the GENIUS Act before allowing it to proceed.
Thus, Congress continues to discuss cryptocurrency bills, striving to find compromise among different factions, which may influence the future regulation of digital assets in the US.
