many cryptocurrency Regulation bill supported by president Donald Trump On Tuesday, a major procedural obstacle failed to clean Lok SabhaA major blow to the Crypto industry.
The bills cannot proceed until the House approves the rules of debate for the law. The last tally of amazing votes was in favor of 196 and against 223 on Tuesday.
Thirteen Republican voted with Democrats to prevent the law from moving forward.
It was not clear what would be the next steps for the late package on Tuesday, after the House Republican leadership, a sudden decision was taken against holding another vote on the same day.
Measures were expected to pass widely. The failure of the rule during the bill as the “Crypto Week” was a rare example of the House Republican, refusing to take direction to Trump.
Republican leaders have not yet clarified whether the other vote will be for a similar rule and the same bill, or whether members would change the package to satisfy members of the GOP conference, who opposed the current proposal.
The crypto-linked stock decreased after the vote failed.
Storm clouds hover at US Capital in Washington, DC on 1 July 2025.
Chip Somodeville | Getty images
Rape. Margeori Taylor GreenR-Ga., One of the Republicans who opposed the remedy, wrote In a post, “I did not vote on the rules for the Genius Act as it does not include the ban on Central Bank Digital Currency and because Speaker Johnson did not allow us to submit amendment to the Genius Act.”
Green wrote, “President Trump included a ban on CBDC in his 23 January executive order and the Congress should also include a ban on CBDC in the Genius Act.”
Trump on Tuesday welcomed the “Crypto Week” during a post on his truth social and urged all the House Republicans to vote “yes” on the measurement.
“The House will soon vote on a tremendous bill to make America undisputed, undisputed, number one leader in digital assets – no one improves it!” Trump wrote.
He wrote, “The Genius Act is going to lighten our great nation in front of China, Europe and all others, which are trying endless to catch, but they cannot do it,” he wrote.
“Digital assets are the future, and we are moving a lot! Get the first vote of the afternoon (all Republicans should vote!),” Trump continued.
– Emily Wilkins of CNBC contributed reporting
