Crypto regulation bills move forward after record-setting House vote

Interestingly, The future of three crypto bills in Congress is uncertain after two days of House Republican infighting over the contents of the legislation and the cess for moving it

House Speaker Mike Johnson spent around 10 hours trying to unite his conference enough to push through a cedural vote to apve rules of debate for the crypto bills and an adjacent Pentagon appriations package (something worth watching)

The rules were only apved after a group of 'no' votes flipped to yesses

Moreover, Speaker of the House Mike Johnson (R-LA) walks to his office at the U

On the other hand, Andrew Harnik | Getty Images News | Getty ImagesThe future of a trio of crypto regulation bills was thrown into question Wednesday after a second day of opposition from conservative House Republicans held up the legislation for 10 hours before it finally moved forward

Fresh opposition also emerged over the course of the day from moderate Republicans who objected to last-minute changes int to appease an original group of hardline conservative holdouts whose 'no' votes had tanked the bills on TuesdayLate Wednesday night, a group of 'no' votes flipped to yesses, and the chamber finally apved the rules of debate for the crypto bills and an adjacent Pentagon appriations package, in this volatile climate

Wednesday's marathon vote set the record for the longest open vote in modern House history, a record that had had been set earlier in the month

Furthermore, However, House Speaker Mike Johnson, R. , can lose only a handful of Republicans on any measure, and still pass the legislation in a party-line vote

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For the crypto industry — which gave tens of millions of dollars to House members during the last campaign cycle — the struggle to move the bills was a sharp letdown that threatened to dash hopes of getting a crypto regulation framework passed during what had been billed as "Crypto Week, considering recent developments. " Wednesday's new stumbles also raised questions the scope of President Donald Trump's influence over members of the party he leads

This second attempt to apve the rules came after 11th-hour negotiations and Trump's intervention on Tuesday evening appeared to bring one group of holdouts on board, in this volatile climate

Trump met in the Oval Office late Tuesday evening with a dozen conservative Republicans

Nevertheless, Afterward, he said they had "all agreed to vote" in favor of the rule, according to a late-night Truth Social post

But new opposition Wednesday came from lawmakers on key committees who had authored the legislation — not just the conservative hardliners

Additionally, Members of the Committee on Financial Services, for instance, opposed some of the last-minute tweaks made by leadership to merge two of the bills, according to Politico (noteworthy indeed), in this volatile climate

The evidence shows three bills in question include one, the GENIUS Act, which passed the Senate in June, and two others that are moving through the House first: The CLARITY Act and a bill that would bar the Federal Reserve from establishing a central bank digital currency, in today's financial world.