House GOP Stumbles on Crypto Week Bills—GENIUS Act Now Hanging by a Thread

Washington's latest crypto showdown ends in gridlock as House Republicans fail to push through key digital asset legislation.

Legislative Limbo

The much-hyped 'Crypto Week' package—including the controversial GENIUS Act—hit a wall today after GOP leaders couldn't whip enough votes. Insiders say the bills lacked Democratic support while facing last-minute defections from crypto-skeptical Republicans.

What's at Stake

The stalled legislation would have created clearer regulatory frameworks for stablecoins and crypto taxation. Its failure leaves the industry navigating the same regulatory gray zone that's made compliance officers rich since 2017.

Silver Lining?

Some lobbyists whisper this might force more bipartisan compromise—or alternatively, let Wall Street banks keep milking the 'regulatory uncertainty' arbitrage a while longer. Either way, the GENIUS Act's sponsors now face a ticking clock before August recess.

US Crypto Week Off To a Very Bad Start 

The setback came from within the Republican party. Members of the House Freedom Caucus opposed the package, citing concerns over bundling unrelated legislation.

The GENIUS Act, designed to regulate stablecoins, had bipartisan support and backing from the Senate and the White House. President TRUMP has reportedly prioritized the bill and wants it delivered as written.

House Majority Leader Steve Scalise acknowledged the split.

“I was one of those who WOULD like to see the whole package as one, but the president and the Senate really want us to move GENIUS first. The question is do we play games with the Senate bill when the president has made it clear he wants GENIUS on his desk as it’s written?” said Steve Scalise.

The failed vote derails what GOP leaders had planned as a milestone week for crypto policy. It also blocks action on defense spending, which was tied to the same rule.

Republican leaders are now weighing their options. They may bring the rule back to the floor later today, possibly around 5 PM.

However, the path forward remains uncertain. Leadership must now decide whether to unbundle the bills or renegotiate terms with dissenting members.

For now, Crypto Week is stalled. The GENIUS Act—once expected to sail through—now faces an unexpected delay in the House.