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US President Donald Trump announced on July 16, 2025, that he had met with eleven out of twelve dissenting Republicans in the Oval Office. The lawmakers had earlier withdrawn their support for three key crypto bills. They claimed that they did so over the missing ban on Central Bank Digital Currencies (CBDCs). Trump confirmed that all 11 had now agreed to vote in favor of the GENIUS Act in the House on Wednesday.
The vote, part of the GOP’s (Republican Party’s) ambitious ‘Crypto Week’ agenda, was initially postponed after 13 Republican lawmakers joined Democrats to block a procedural vote. Their primary concern was the absence of a firm ban on CBDCs within the GENIUS Act.
Lawmakers, including Marjorie Taylor Greene and Andy Biggs, voiced fears that the bill could potentially create a framework for a layered CBDC. They also opposed being blocked from proposing amendments.
Trump’s earlier executive order, issued in January, already barred the Federal Reserve from issuing a retail CBDC. The GENIUS Act also clarifies that the Fed cannot offer services like digital wallets or retail-facing financial products. Despite this, some Republicans demanded stronger language.
Speaker Mike Johnson expressed optimism that the bills will now proceed, with separate votes planned for each measure. Johnson noted the importance of passing these bills before the August recess. He emphasized that the delay was part of the routine ‘legislative process’ negotiations between the House, Senate, and White House.
The stalled legislation includes the GENIUS Act (focused on stablecoin regulation), the Anti-CBDC Surveillance Act (prohibiting a Federal Reserve-issued central bank digital currency, or CBDC), and the CLARITY Act (a broader framework for market structure).
The delay in passing the bills dealt a blow to ‘Crypto Week.’ It is a high-profile initiative led by Republicans to push comprehensive cryptocurrency legislation before Congress breaks for summer. ’
Despite the setback, pro-crypto lobbying remains strong. Coinbase’s chief policy officer, Faryar Shirzad, said the failure was only a temporary roadblock and emphasized that these moments reveal who genuinely supports crypto regulation. Only today’s House Vote will tell if Trump’s intervention has worked or not, as the crypto community eagerly awaits.
Also Read: Senator Warren Warns GENIUS Act Could Let Tech Giants Track Users via Stablecoins
