- The U.S. House of Representatives did not advance the Crypto Genius Act, Clarity Act, or Anti-CBDC Act on Tuesday.
- A total of 223 lawmakers voted against the legislation, while 196 voted in favor.
- Most opposition came from Democrats, with some Republican dissent due to missing policy provisions.
- Marjorie Taylor Greene cited the lack of a Central Bank Digital Currency (CBDC) ban as her reason for voting against the bill.
- Crypto-related stocks, including Circle and Coinbase, fell after the bills failed, but leading cryptocurrencies remained stable.
The U.S. House of Representatives failed to pass three cryptocurrency-related bills on Tuesday: the Crypto Genius Act, the Clarity Act, and the Anti-CBDC Act. The legislation was brought forward during an event called ‘Crypto Week’ in Washington, D.C., but did not gain enough support to move forward.
Out of all voting members, 196 Republicans supported the acts, while 13 Republicans and 210 Democrats opposed them, totaling 223 votes against and 196 in favor. As a result, none of the proposed acts advanced.
Representative Marjorie Taylor Greene from Georgia stated she voted no because the bills did not include a ban on Central Bank Digital Currency (CBDC). She explained on X, formerly Twitter: “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.” She added that former President Trump had included a CBDC ban in a January executive order and urged Congress to do the same.
The decision impacted crypto-related stocks, with Circle (CRCL) dropping nearly 10 points and Coinbase (COIN) falling close to 6 points. However, the outcome had little effect on leading cryptocurrencies. Bitcoin remained steady around $117,000, and Ethereum traded above $3,100 after the vote.
Officials did not report any significant price fluctuations in the broader crypto market despite the setback for the legislation. The bills’ failure during the high-profile Crypto Week event followed promotional efforts from the White House and ongoing debates about cryptocurrency regulation.
For additional industry developments, refer to JPMorgan-will-get-involved-in-crypto-stablecoins”>Jamie Dimon’s statement on JPMorgan’s move into crypto stablecoins or see updates about SCO Summit 2025 and digital trading platforms.
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