Trump’s Last-Minute Intervention Rescues Crypto Legislation Amid GOP Revolt

U.S. President Donald Trump's eleventh-hour involvement may have salvaged crypto Week after a procedural vote collapse derailed key digital asset legislation. The House's attempt to advance three pivotal bills—the GENIUS Act, the Digital Asset Market Clarity Act, and the Anti-CBDC Surveillance State Act—failed 196-223 on July 15, as conservative Republicans rebelled over central bank digital currency concerns.

The revolt, led by Freedom Caucus members including Reps. Andy Biggs and Marjorie Taylor Greene, centered on fears that the GENIUS Act could inadvertently enable a retail CBDC. Section 4C's ambiguous language about Federal Reserve digital currency prohibitions became the flashpoint, stalling what was meant to be a landmark week for U.S. crypto leadership.

Market observers note the irony: legislation designed to clarify digital asset regulation now faces delays due to regulatory ambiguity itself. The episode underscores how CBDC skepticism has become a rare bipartisan issue, with hardliners willing to fracture party unity over perceived surveillance risks.