House Defies Trump, Rejects Crypto Rules—Second Vote Looms Today

Washington draws battle lines as lawmakers spike controversial crypto regulation package—despite direct pressure from former President Trump. All eyes now turn to an expected second vote later today.

Legislative whiplash

The surprise rejection comes after heavy lobbying from both crypto advocates and traditional finance players. Insiders suggest the bill's ambiguous custody requirements spooked institutional investors.

Political theater meets DeFi

With Trump's last-minute endorsement failing to sway votes, the episode highlights crypto's increasingly partisan divide. One staffer quipped: 'Turns out politicians love blockchain—just not the accountability part.'

What's next?

Expect procedural maneuvers as House leadership scrambles to revise the package. Meanwhile, Bitcoin barely flinched—proving once again that DC's drama moves markets less than a single Elon Musk tweet.

*Bonus jab: Wall Street banks reportedly relieved—delaying crypto regulation means more time to patent their own centralized versions.*

Rule vote stalls the combined package

The failed motion WOULD have combined the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance Act with the fiscal year defense appropriation. 

Speaker Mike Johnson said Republicans blocked the rule because “some members really want to emphasize the House’s product.”

Wallace rumored a revised rule for a second vote, and it might happen at about 5 P.M. ET. 

The new proposal could decouple the defense bill or split the crypto measures, allowing each to receive individual debate time.

Should it pass, floor debate on the crypto measures could begin on July 16, with final votes aimed for later in the week.