Congress Fumbles GENIUS Act and CBDC Bills; What Went Wrong?

Congressional efforts to advance crypto-related legislation hit a roadblock as the GENIUS Act and CBDC bills failed to secure procedural approval. A divided House saw 223 members, predominantly Democrats, voting against further debate, stalling progress on stablecoin regulation and sparking concerns over potential CBDC implications.

Republican dissent centered on fears the GENIUS Act could inadvertently empower the Federal Reserve to launch a central bank digital currency, despite explicit prohibitory language in the bill. The legislative impasse marks a setback for crypto policy momentum following recent pro-industry signals from former President Trump.

Market participants now face prolonged regulatory uncertainty as Congress postpones critical votes on digital asset frameworks. The deadlock underscores the political complexities shaping cryptocurrency's path to mainstream financial integration.