Key Crypto Bills Await Second Attempt After US House Procedural Vote Fails

The House previously declared July 14 to 18 as "Crypto Week," setting the stage to review three key bills: the GENIUS Act, the CLARITY Act, and the Anti-CBDC Act. These bills target the regulation of stablecoins, digital asset classification, and central bank digital currencies (CBDCs), respectively.

A full vote was initially scheduled for July 17. However, on July 15, a procedural vote failed 196 to 223, with 12 Republicans voting against it.

After the vote failed, President Donald Trump posted on Truth Social: “I am in the Oval Office with 11 of the 12 Congressmen and women necessary to pass the GENIUS Act. After a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule.”

Journalist Eleanor Terrett later confirmed that another procedural vote was scheduled for July 17 at approximately 4:20 PM (UTC). If that vote passes, the bills will move forward to floor debate and final voting.

Stablecoins: From the Sidelines to the Financial Core

Stablecoins have become one of the dominant financial narratives of 2025. The GENIUS Act creates a legal framework for stablecoins, giving them legitimacy and regulatory clarity. With a market now worth $2.38 trillion, stablecoins are already essential to global payments and decentralized finance (DeFi).

The momentum is visible. Major banks and retailers are integrating stablecoin payments and pushing adoption in cross-border remittances. DeFi protocols like Aave and Curve, which rely heavily on stablecoin liquidity, are expected to see a surge in Total Value Locked (TVL) if the bill passes.

The GENIUS Act has already cleared the Senate and is poised to become the first comprehensive crypto legislation in the United States if approved by the House. The CLARITY and Anti-CBDC Acts remain under Senate consideration.

Exchanges and DeFi: Unlocking Innovation and Institutional Entry

The CLARITY Act would define the regulatory responsibilities of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) regarding digital assets. This long-awaited clarification would lower legal risks for centralized exchanges like Coinbase and decentralized platforms like Uniswap.

If passed, the law would cut compliance costs and likely boost trading volume. It would open the door to more retail users and make the space safer for institutional capital. DeFi developers in particular could benefit. Clearer rules may encourage the launch of new protocols and platforms. Innovation in areas such as Web3, NFTs, and decentralized identity (DID) would likely accelerate.

The Act could also spark a wave of crypto startups and venture funding. With legal protections in place, institutional investors may move more aggressively. Compared to the European Union's more restrictive approach, the United States could become a hub for regulatory arbitrage and cross-border capital flows.

Decentralized Assets: Protecting Privacy and Autonomy

The Anti-CBDC Act supports decentralization and reinforces Bitcoin's narrative as a censorship-resistant store of value. It also opens the door for privacy-focused projects to grow. Bitcoin’s long-term appeal relies on both institutional adoption and grassroots conviction. A law that strengthens its anti-surveillance narrative would likely attract long-term holders and new capital.

Unlike many countries moving forward with CBDCs, the United States may take a different stance. Supporters of the Anti-CBDC Act argue that government-issued digital currencies could be used to monitor users and undermine financial privacy. This directly conflicts with the principles of Web3.

If the United States formally rejects CBDCs, it could become a global safe haven for decentralized assets. That positioning would attract developers, investors, and builders looking for regulatory certainty and freedom.

Democrats Raise Concerns Over Potential Conflicts in Crypto Legislation

The legislation, however, is not without controversy. The Block reports that Democrats are strongly opposing the GOP-led GENIUS and CLARITY Acts, alleging the legislation is crafted to benefit former President Trump and his allies under the guise of crypto reform.

Central to their criticism is World Liberty Financial USD, a stablecoin linked to the Trump family that has rapidly gained traction in the digital asset market. Democrats argue that the GENIUS Act would further boost the token’s growth, potentially delivering significant financial gains to Trump’s inner circle.

Senior Democratic leaders have mockingly labeled the legislative push as “Anti-Crypto Corruption Week,” portraying the bills as attempts to concentrate wealth and political power among Trump-aligned figures.

Impact of Crypto Week

Crypto Week carries significant weight. The results will influence short-term market sentiment, but more importantly, they mark a shift for the crypto industry from unchecked growth to a more structured and institutional future.

According to The Block, Bitwise CIO Matt Hougan commented, “You can’t put the genie back in the bottle. If these bills pass through Congress during Crypto Week and eventually get signed into law, we’ve entered a new era.”

Hougan also expressed confidence that future administrations are unlikely to reverse this momentum. Despite public skepticism, crypto has become one of the few areas with bipartisan backing in Washington. The GENIUS Act, for example, passed the Senate 68 to 30, gaining support from 18 Democrats. It stands out as one of the most bipartisan bills of 2025.

Crypto Week: A Defining Moment for U.S. Policy

Since Donald Trump returned to political influence and embraced crypto, the U.S. government’s tone toward digital assets has shifted dramatically.

This policy shift is not lost on Wall Street or public companies. As the government pushes for a clear and consistent crypto framework, institutional hesitation is fading. Firms that once avoided crypto due to legal uncertainty are preparing to engage.

An unregulated market has limited capacity. A regulated market, on the other hand, can absorb massive institutional inflows. If the legislative momentum continues, it will likely trigger a wave of capital moving into major cryptocurrencies like Bitcoin and Ethereum, along with renewed interest across the broader crypto landscape.