Washington – House is expected to vote on Thursday A historical piece of law appeared in Limbo after its fate on a historical piece of law to regulate cryptocurrency when the right -wing Republican staged a rebellion that brought the floor to a stagnation.
Bill known as Talented actThe first major crypto passed by the Congress is ready to be the law.
On Tuesday, a dozen conservatives cast a procedural vote to pursue three crypto bills, including the Genius Act, which will set up a regulatory structure for the $ 250 billion market. StabelcoinsA type of cryptocurrency is tied to the value of a property like US dollar.
House speaker Mike Johnson, a Louisiana Republican, suddenly canceled the remaining floor votes and the holdouts went to the White House to meet President Trump, who later announced that they were “all agree” to fall into the line.
But the play came out during Wednesday’s procedural vote when some holdouts initially voted against proceeding before leaving their protests, which was short -lived. The next procedural vote to establish a debate on the bill of the bill was held open for about 10 hours as the holdout demanded a merger of a comprehensive market structure bill with a law to ban the central bank digital currency.
Republican rape. Andy Harris in Maryland, who leads Conservative House Freedom Caucus, said Holdouts had made a deal to package two digital asset measures with Mr. Trump.
The plan went on against those who wrote the law and the House Republican called the “Crypto Week”.
The House Republican originally wanted the Genius Act to marry with the Clarity Act, a comprehensive bill that a digital asset is considered an object or security. The combination of crypto bills would have sent the law back to the Senate and slowed down the process. Mr. Trump pressed the Congress to quickly pass the Genius Act as a standalone bill, saying that it would make America a leader in digital property.
This week, conservatives pushed the controversial anti-central bank to tie the Clarity Act with the Digital Currency Monitoring State Act, which would prevent the Federal Reserve from issuing the central bank digital currency. Conservaties stated that the Senate’s Stabeloin bill and comprehensive market structure law were inadequate as it would allow for a central bank digital currency, which they had opposed.
“We think we need to deal with all this at once,” said Texas’s Republican rape chip Roy, who helped the bill stall.
A deal was eventually late on Wednesday that a central bank must be with the annual defense revision bill to tie the ban on a digital currency, and the holdout again flipped its votes to allow the legislative process to proceed.
Senate Approval of bilateral stabechoin bill Last month, the Trump family can make the President weakened to foreign influences after anxiety and ability and ability after experiencing hiccups due to a democratic rebellion on concerns about business enterprises.
Trump family’s crypto investment is Their wealth increased in Arabs In recent months, the administration has continued to overthrew the federal government’s regulatory approach to the digital currency industry. The White House has denied that there is a confrontation of interests and said that Mr. Trump’s property is in a trust managed by his children.
Democratic critics were also concerned that the law did not have enough provisions to protect consumers, financial systems and national security.
This house is facing similar criticism from Democrats.
The House Financial Services Committee top Democrat said on Thursday, “By passing this bill, the Congress is telling the world that the Congress is fine with corruption, it is fine with buying impacts with foreign companies.”
Democrats who refund the law have argued that the rules are overdose for a long time, even if the measures are incomplete.
“The question is whether you want some road rules or there are no road rules?” Democratic rape. Josh Gotteimer of New Jersey said during the floor debate.
