House Republicans Split, Delay Stablecoin GENIUS Act Amid Crypto Week Standoff

The U.S. House of Representatives' ambitious 'Crypto Week' agenda has faced significant challenges as divisions within both parties surfaced. Thirteen Republicans joined Democrats to block a procedural vote on the GENIUS Act, a key stablecoin regulatory bill, due to concerns over bundling it with other crypto legislation, delaying potential progress and causing market reactions. Despite initial resistance, House Republican leadership struck a last-minute deal with hard-liners to advance three crypto bills, including the GENIUS Act, leading to expectations of a floor vote. Some House Democrats expressed serious concerns about the lack of explicit conflict of interest standards for the president and vice president in the GENIUS and CLARITY Acts but still voted for the bills. President Trump has been actively involved, supporting the GENIUS Act and encouraging lawmakers to move forward, while tensions remain over regulatory details and party unity. Overall, the crypto legislation effort highlights ongoing partisan and ideological rifts, complicating the U.S. push for clearer digital currency regulations.