Trump Claims Crypto Bills Back on Track After Initial House Setback

A set of cryptocurrency-focused legislative proposals supported by U.S. President Donald Trump initially failed to advance in the House of Representatives on Tuesday — but saw a sudden shift just hours later.

According to Trump, after holding a brief discussion at the White House, Republican lawmakers who had previously blocked the bills agreed to proceed with the vote. Posting on Truth Social around 9 p.m. ET, Trump stated that 11 of the 12 critical GOP representatives were now on board to support the procedural vote required to move the legislation forward.

Trump also shared that House Speaker Mike Johnson had phoned in during the meeting and was eager to proceed with the vote the next morning.

The dramatic turnaround followed a failed attempt earlier in the day to approve the rule governing debate for the three crypto bills, a critical step before formal voting can occur. The vote tally stood at 196 in favor and 223 against, with 13 Republicans joining Democrats to halt the progress of the legislation.

The failure surprised many, especially during what has been dubbed “Crypto Week” in Washington — a week that was expected to mark major victories for the digital asset space. It was also one of the few instances where House Republicans temporarily resisted direction from Trump.

However, the evening reversal highlighted Trump’s continued influence over the Republican Party, particularly on emerging tech policy.

What Are the Crypto Bills in Question?

The legislation in question includes:

• The GENIUS Act – Aims to establish regulatory clarity around stablecoins and determine whether they are securities or commodities. This bill had already passed the Senate with bipartisan support.
• The CLARITY Act – Would assign responsibility for regulating digital assets either to the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), preventing overlapping jurisdiction.
• A bill opposing a Central Bank Digital Currency (CBDC) – This proposal would prohibit the Federal Reserve from developing or issuing a CBDC, due to concerns about surveillance and personal privacy.

Market Reaction

After the House setback, crypto-related stocks declined.

• Circle, a major stablecoin company, saw its stock fall by over 7%.
• Coinbase dropped more than 4%, while MARA Holdings, a digital asset firm, slipped 2%.

Opposition and Political Divide

Among the dissenters, Rep. Marjorie Taylor Greene (R-Ga.) stated on X (formerly Twitter) that she voted against the GENIUS Act because it didn’t explicitly include a CBDC ban, which Trump had outlined in a January 23 executive order. Greene also criticized Speaker Johnson for not allowing proposed amendments to be considered.

Greene emphasized that Congress must ensure the CBDC ban is officially written into the bill, aligning with Trump’s own stance.

Trump’s Vision for U.S. Crypto Leadership

Earlier in the day, Trump had described the upcoming votes as critical to ensuring the United States becomes the “undisputed leader” in digital assets. He urged all House Republicans to support the bills, stating:

“Digital Assets are the FUTURE, and we are leading by a lot… The GENIUS Act will take us far ahead of China, Europe, and anyone else trying to catch up.”

Trump has become an outspoken advocate for crypto, with his administration pushing to modernize regulation and support industry growth after years of aggressive enforcement by regulators under the Biden administration.

Bottom Line:
Though the path to final approval is still underway, Trump’s late-night maneuver has revived momentum for a trio of crypto bills that could reshape the digital asset landscape in the U.S. The next vote is expected to take place the following morning.