U.S. House Clears Key Hurdle on Crypto Bills, Marking Big Win for Digital Asset Sector

The U.S. House of Representatives, under Republican control, successfully advanced a series of procedural steps on Wednesday to move forward with major cryptocurrency legislation — a significant step toward creating the first federal laws governing digital assets. This progress came shortly after former President Donald Trump stepped in to revive the initiative.

The move followed more than nine hours of closed-door negotiations, during which House leadership worked diligently to persuade hesitant lawmakers concerned about the structure and timing of the proposed legislation.

A bill focused on regulating stablecoins is expected to be the first measure passed. This legislation, which has already cleared the Senate, would head to Trump’s desk for signature if approved by the House. Its passage would mark a milestone for the cryptocurrency industry, which has long called for legal clarity around these digital assets.

Stablecoins — cryptocurrencies typically pegged to the U.S. dollar — are used extensively for fast and cost-effective digital transactions. Their popularity has soared in recent years as a flexible alternative to traditional banking transfers.

Alongside the stablecoin bill, the House is also preparing to consider legislation that would define the regulatory framework for other digital assets. This measure would outline which crypto products are considered commodities — thus falling outside of Securities and Exchange Commission (SEC) oversight. The Senate has yet to introduce a counterpart to this proposal.

A third piece of legislation — widely supported by conservative lawmakers — seeks to ban the Federal Reserve from issuing its own central bank digital currency (CBDC). Supporters argue that a government-backed digital currency could lead to excessive federal control over individual financial transactions. Federal Reserve officials, however, have repeatedly stated they have no plans to develop such a currency at this time.

According to House Majority Whip Tom Emmer, this anti-CBDC measure will be incorporated into a broader defense funding package as part of a compromise deal to ensure its advancement.

Earlier efforts to move the crypto package hit a roadblock on Tuesday when a group of conservative Republicans joined Democrats in rejecting a key procedural vote. Trump’s late-night meeting with the holdouts helped turn the tide, clearing the way for another attempt on Wednesday.

Despite Trump’s intervention, subsequent procedural votes remained tense, with GOP leaders investing several more hours lobbying conservative members to move the legislative process forward. Some lawmakers pushed back against efforts to handle each of the three major crypto bills separately, insisting on a more unified approach.