Key Takeaways
Three major crypto-related bills, including the GENIUS, CLARITY, and Anti-CBDC acts, have enough votes to advance in the House, according to Rep. French Hill.
The GENIUS Act would establish federal regulation for dollar-backed stablecoins used in blockchain payments.
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French Hill, Chair of the House Financial Services Committee, expressed confidence that the GENIUS Act, CLARITY Act, and Anti-CBDC bill have the votes needed to advance in the House.
“I believe that we do have the votes to advance the Senate Genius Act, which will create the first federally regulated, with clear rules, dollar-backed payment stablecoin, which will unleash a new competitive round in how payments are done when they’re used in a blockchain application,” said Hill in a Wednesday interview with CNBC.
Hill indicated that House Speaker Mike Johnson is currently coordinating how these measures will be presented for House consideration.
JUST IN: 🇺🇸 Rep. French Hill says there is “strong bipartisan support” for the crypto market structure bill. pic.twitter.com/OJHDs8xlvj
— Crypto Briefing (@Crypto_Briefing) July 16, 2025
The trio of crypto bills failed to advance in the House yesterday as a procedural vote intended to bring forward three major acts was rejected by House conservatives.
The vote was 196 against to 223 in favor, with a majority of Republicans voting ‘no’ in protest of the stablecoin legislation not including a CBDC ban and the Speaker’s refusal to allow amendment votes.
Lawmakers are scheduled to hold the next procedural vote today at 12:20 p.m. ET, as per the legislative agenda.
“Crypto Week” got off to a rocky start after the Tuesday procedural vote, but the momentum may be shifting. President Donald Trump, reportedly frustrated by the outcome, met with key members of Congress in the Oval Office and emerged with a commitment of support for today’s vote on the GENIUS Act.
Trump said lawmakers, whose earlier opposition had stalled crypto legislation, had agreed to back the procedural vote, reviving hopes for the GENIUS Act and broader regulatory progress.
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