16-7-2025 – President Donald Trump rescued three major cryptocurrency bills from legislative limbo Tuesday night, personally meeting with House Republicans who had blocked their advancement earlier in the day during what the administration has dubbed “Crypto Week.”

The House voted 196-223 against a procedural rule that would have allowed the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act to proceed to floor debate. Twelve Republican members, including Reps. Marjorie Taylor Greene, Chip Roy, and Scott Perry, broke ranks over concerns that the GENIUS Act could enable central bank digital currency creation despite language supposedly prohibiting it. Rep. Greene stated she voted against the rule because it “does not include a ban on Central Bank Digital Currency.”

🚨NOTICE OF ACTION🚨

The Committee granted, by a recorded vote of 8-4, a rule providing for consideration of H.R. 4016, H.R. 3633, H.R. 1919, and S. 1582.

Thanks to @HouseAppropsGOP, @FinancialCmte, and @HouseAgGOP for their testimony tonight. pic.twitter.com/oAqzRkXVRa

— House Rules Committee (@RulesReps) July 15, 2025

Following the defeat, Trump convened an Oval Office meeting with 11 of the 12 dissenting Republicans, securing their commitment to support the procedural rule Wednesday morning. The President announced the breakthrough on Truth Social shortly before 9 p.m. ET, writing that after “a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule.”

Industry experts remain divided on the legislation’s merits. Komodo Platform’s Chief Technology Officer Kadan Stadelmann told Decrypt the GENIUS Act “does not include provisions explicitly preventing the Federal Reserve from creating a CBDC” and warned that stablecoin regulation “risks turning stablecoins into de facto CBDCs.” Meanwhile, House Democrats led by Rep. Maxine Waters have criticized the bills as potentially opening “the floodgates to massive fraud and financial ruin for millions of American families.”