INSUBCONTINENT EXCLUSIVE:
The US House of Representatives has cleared the way for three Republican-led crypto bills to be considered in the chamber after a failed
vote on Tuesday.In a Wednesday floor vote in the House, lawmakers voted 215-211 in favor of a resolution to reconsider a package with bills
to regulate payment stablecoins, establish crypto market structure and restrict the development of a US central bank digital currency (CBDC)
Congress breaks for an August recess.Though the motion to reconsider passed, the House had yet to agree to the resolution
Reports suggested lawmakers were debating how to move forward
At the time of publication, the vote remained open.Wednesday vote to consider three crypto bills and a defense spending bill
Source: US House of RepresentativesDespite political pressure from US President Donald Trump, five Republicans did not vote in favor of
reconsidering the resolution
Thirteen House Republicans caused the vote to fail on Tuesday, several of whom expressed concerns about the lack of CBDC provisions in the
stablecoin bill, the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act.Many House Democrats continue to push
pro-crypto bills pass?Though the procedural vote to reconsider the motion on the three crypto bills seemed to signal Republicans were on
board, reports suggested some lawmakers were drawing a line in the sand over how to handle CBDCs
A vote to agree with the resolution of a package of bills had been dragging on for hours at the time of publication.Magazine: GENIUS Act
reopens the door for a Meta stablecoin, but will it work?
