The US Congress faces renewed discussions on advancing crypto bills after several Republican lawmakers shifted their support. The focus remains on stablecoin regulation and a ban on central bank digital currencies (CBDCs).
Issues with Crypto Bills
Republican lawmakers decided to reconsider their support for crypto bills following a move to cancel a re-vote on Tuesday. House Speaker Mike Johnson emphasized that advancing these bills remains a priority for the White House, the Senate, and House leaders. However, some Republicans are requesting the inclusion of a CBDC ban in the stablecoin-regulating GENIUS Act.
CBDC Concerns Stall Legislation
House Majority Leader Steve Scalise and other Republican lawmakers expressed hesitance regarding the GENIUS Act, pointing out the lack of a CBDC ban. Dissenting members, including Andrew Clyde and Tim Burchett, joined in voicing that they cannot support the bill without assurances against CBDC.
Future Plans and Expectations
The House is scheduled to meet again on Wednesday for a debate. Speaker Johnson stated that he is in discussions with the dissenting Republicans, emphasizing the need for a compromise regarding whether the bills should be combined.
The US Congress continues its active discussions on crypto bills amidst internal disagreements. Expectations are once again focused on advancing legislation and addressing the possibility of a CBDC ban, which has become a central issue in the current discourse.
