US House Finally Advances Crypto Bills After Historic 10-Hour Standoff

• The US House of Representatives has passed a motion to advance the principal crypto bills, the GENIUS Act, the CLARITY Act, and the Anti-CBDC Act, after a record 10-hour vote.
• The GENIUS Act is expected to secure a final vote on Thursday, while the CLARITY Act eyes next week for a final vote.
• The Anti-CBDC Surveillance State Act will be attached to the NDAA (National Defense Authorization Act).

After a 10-hour deadlock, widely regarded as the longest vote in US history, the House has finally greenlit the motion to advance three pivotal crypto bills for a full floor vote. This move fast-tracks the final passage of the bills, expected to happen before August.

Successful Procedural Votes For Crypto Bills

The House voted 217-212 to proceed with the stablecoin bill, GENIUS Act, CLARITY Act, and the Anti-CBDC Act on Wednesday night after a series of dramatic occurrences within the Crypto Week. Democrats, known for their opposition to GOP-led bills, were initially assumed to be positive on the bills, but ended up backing out completely.

A few hours before the vote, ranking Democrats organized a press conference to dissuade fellow lawmakers from endorsing the digital asset bills. They cited the potential of the bills to enrich only the elite, including President Trump, adverse national security implications, and the absence of proper consumer protection guardrails to justify their opposition.

ADVERTISEMENTThere was also uncertainty from the Republican camp, especially after some of them joined Democrats to oppose the advancement of the bills in the initial procedural vote on Tuesday. However, President Trump’s successful conviction of 11 of the 12 Republicans who previously voted against the motion ultimately facilitated a U-turn that led to Wednesday’s passage.

In his statement after the successful vote, House Committee on Financial Services Chairman French Hill congratulated President Trump, the Speaker of the House, Mike Johnson, and other legislative dignitaries for their commitment to the passage of the bills, which would open the “door to the golden age of digital assets.”

“I’m excited President Trump will soon sign Senator Bill Hagerty’s GENIUS Act into law establishing a federally regulated, U.S.-dollar-backed stablecoin,” said Hill

ADVERTISEMENT*“Likewise, I’m delighted the House will vote on the exceptional digital asset market structure framework crafted by House Agriculture Committee Chairman G.T. Thompson and Subcommittee Chairs Dusty Johnson and Bryan Steil. Further, the House will pass Majority Whip Tom Emmer’s Anti-CBDC Surveillance Act,…”*

Road Ahead For Digital Asset Bills

Following the passage of the procedural vote, the GENIUS Act, the bill establishing a regulatory structure for dollar-backed stablecoins, will get a final vote this Thursday, per Speaker Johnson. The bill passed the Senate last month with an applaudable 68-30 bipartisan vote and is expected to pass through the House.

However, a vote on the CLARITY (Digital Asset Market Clarity) Act is likely to be scheduled for early next week. This piece of legislation will create a clear regulatory path for digital assets, demarcating betwen securities and commodities, and establishing the necessary regulatory organogram, among other provisions.

Meanwhile, the House agreed to include Majority Whip Tom Emmer’s Anti-CBDC Surveillance bill will be attached to the NDAA (National Defense Authorization Act). The bill will protect Americans’ privacy while enabling innovation in private sector payment infrastructure.

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