House GOP Fails to Advance Crypto Week Bills, GENIUS Act in Jeopardy

The House Republicans' attempt to advance a package of cryptocurrency-related bills, including the GENIUS Act, collapsed in a 196–222 vote. The failure blocks consideration of not only the GENIUS Act—a bipartisan stablecoin regulation bill backed by the Senate and White House—but also the Clarity Act and annual defense appropriations. President TRUMP had reportedly prioritized the GENIUS Act in its current form.

Opposition emerged from within the GOP, as members of the House Freedom Caucus rejected the bundling of unrelated legislation. House Majority Leader Steve Scalise acknowledged the rift, noting the WHITE House's insistence on passing the GENIUS Act as written. Republican leaders may revisit the vote later today, though the path forward remains unclear—whether through unbundling or renegotiation.

The setback derails what was intended to be a landmark week for U.S. crypto policy. With defense spending also tied to the failed rule vote, the impasse underscores broader legislative gridlock. Market participants now face renewed uncertainty over the regulatory trajectory for stablecoins and digital assets.