Crypto Chaos on Capitol Hill: GOP’s Bold Move Derailed by CBDC Fears

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What began as a daring Republican endeavour to establish the United States as the global crypto beacon quickly descended into pandemonium on Capitol Hill this week, as internal party divisions and anxieties over CBDCs threatened to thwart progress.

Despite the tumult, GOP leadership, with a late-night intervention from President Donald Trump, is attempting to rush through three landmark crypto bills before Congress takes its August recess.

Crypto Week Aims for Clarity in the Digital Asset Jungle

Dubbed “Crypto Week” by House Republicans, the initiative is focused on advancing a trio of bills.

The GENIUS Act, which provides regulatory clarity for stablecoins; the Digital Asset Markets Clarity Act (CLARITY Act), aimed at establishing a comprehensive market structure for digital assets; and the Anti-CBDC Surveillance State Act, which seeks to ban the creation of a Federal Reserve-backed digital dollar.

However, efforts hit a snag on Tuesday when 13 Republican lawmakers, in an unexpected move, joined Democrats to block a procedural vote needed to bring the bills to the House floor.

At the heart of their opposition was the absence of an explicit ban on CBDCs in the GENIUS Act, a red line for several conservative members.

Trump Steps In as Crypto Stocks Gyrate

President Trump, a vocal advocate of the bills, summoned 11 of the 12 dissenting Republicans to the Oval Office.

“After a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” Trump posted on his social media platform on July 15, signalling a potential breakthrough.

House Speaker Mike Johnson, who joined the meeting by phone, echoed optimism, telling reporters the GOP remains committed to pushing the legislation forward swiftly.

CBDC Flashpoint Splits the GOP

Lawmakers like Rep. Marjorie Taylor Greene and Rep. Andy Biggs clarified on social media that their vote wasn’t against crypto regulation per se, but against advancing any bill that might implicitly allow a central bank digital currency.

I just voted NO on the Rule for the GENIUS Act because it does not include a ban on Central Bank Digital Currency and because Speaker Johnson did not allow us to submit amendments to the GENIUS Act.

Americans do not want a government-controlled Central Bank Digital Currency.…

— Rep. Marjorie Taylor Greene🇺🇸 (@RepMTG) July 15, 2025

Biggs echoed concerns, claiming the bill could “provide a framework for a layered CBDC” and lacks guarantees for self-custody of digital assets.

The Senate’s GENIUS Act creates a framework for a layered Central Bank Digital Currency (CBDC) and does not guarantee self-custody (the freedom to control your own money).

House Leadership must allow an open amendment process so Members can freely debate and improve the bill.

— Rep Andy Biggs (@RepAndyBiggsAZ) July 15, 2025

House Speaker Johnson has so far resisted packaging the three bills into one, fearing that doing so would kill them in the Senate. “We have to do them in succession,” he reportedly said, noting that Senate support is critical and fragile.

GENIUS Act Inches Closer to Trump’s Desk

Despite the uproar, the GENIUS Act remains the most likely to pass. Having already cleared the Senate in June with bipartisan support, following an initial failure in May, it now needs only House approval to reach Trump’s desk.

BEFORE Y’ALL FREAK OUT, don’t forget that the first procedural vote in the Senate on the GENIUS Act failed as well…the second one passed 11 days later

— Caitlin Long 🔑⚡️🟠 (@CaitlinLong_) July 15, 2025

The House Rules Committee granted the bill a “closed rule,” blocking further amendments, which has angered hardline conservatives but helps maintain momentum. Notably, these rules will help implement clarity in a space where investors are always on the lookout for the next 1000x crypto.

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2025-07-16 15:15