Well, well, well. It looks like Crypto Week just got a plot twist that no one saw coming, except maybe *everyone*. President Trump’s big crypto push came crashing down on Tuesday, July 15, when the U.S. House of Representatives said, “No thanks!” to three crucial pieces of legislation. The vote was a whopping 196-223, leaving the crypto world scratching its collective head. Is the GOP really all about digital gold—or just digital confusion?
House Rejects Key Procedural Vote
In what can only be described as a monumental *facepalm*, 13 Republican lawmakers decided to do the unthinkable and break ranks with their party. They sided with the Democrats to block a vote that could’ve brought the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance Act to the floor. These bills are supposed to make the U.S. the undisputed leader in the digital asset game, but clearly, a few people in the House weren’t buying it. Not today, not ever.
Crypto Week Stumbles
It’s safe to say that President Trump’s vision of America as the crypto king just got a reality check. The GENIUS Act (because who doesn’t love a bill with a name that screams intelligence, right?) was the star of the show and aims to regulate stablecoins like a responsible parent at a playground. But after a failed procedural vote, that dream is looking as shaky as my internet connection during a Zoom call. The Act, already passed in the Senate, promised to bring real accountability to USD-backed stablecoins with strict audits and oversight of foreign stablecoin issuers. Instead, it’s now just a bill gathering dust in the corner of Capitol Hill.
Trump Scrambles to Regain Support
As the votes went down in flames, Trump quickly sprang into action. And by “action,” I mean that he hopped onto Truth Social to tell everyone that he personally met with 11 of the 12 Republican rebels. He posted,
“I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule.”
Talk about a last-minute attempt to save face. Now, House Majority Leader Steve Scalise, who apparently got a case of rebellion fever, has scheduled a second round of voting. Hopefully, it’s more dramatic than a season finale of *The Bachelor*.
“anti-crypto corruption week.” It’s like one big family argument, except the stakes are way higher than who gets the last slice of pizza. 🍕
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2025-07-16 16:23