The House Will Take Another Pass at a ‘GENIUS Act’ Vote, After Republican Rep Holdouts Meet With Trump – RedState
The Senate adopted genius (GUIDING AND Establishing Nattional INnovation for WE STablecoins) Act in June. Sponsored by Senator Bill Hagerty (R-TN), the bill is the solution proposed by President Trump to reduce the risk and financial volatility of cryptocurrencies, such as Bitcoin and Ethereum. Stablecoins, also known as “digital dollars”, aim to mitigate these risks by fixing their value to a less volatile financial asset, most often the US dollar.
In addition to being less volatile than other virtual currencies, Stablecoins can facilitate faster financial transactions and at a lower cost, according to technology supporters. Before the Senate of the Senate on the Act on Engineering in June, Senator Bill Hagerty du Tennessee, the bill of the bill, said that Stablecoins could allow companies and consumers to settle payments “almost instantly”, rather than take weeks.
Although considered less volatile than other cryptocurrencies, stablecoins have risks. One of the most important is that digital currency can be “degenerated” from its underlying assets if the value or liquidity of this asset is changing. This can trigger trading losses, or systemic risks on the insolvency and liquidity market, according to S&P Global Ratings.
The law on engineering, which was adopted in the Senate last month with large bipartite support, would create road rules for the $ 250 billion market for Stablecoin, a type of cryptocurrency. The bill is also part of a broader thrust of the Republican legislators and President Trump to support the cryptocurrency industry and facilitate regulations around the emerging sector.
On Friday, the Republicans of the House announced that Monday would be the start of the “crypto weekend”, when they planned to move forward on three bills on the crypto theme. In addition to the Act on Engineering, the legislation includes the law on clarity, which would regulate digital products beyond stablecoins; And the anti-CBDC law on the state of surveillance, which would prevent the federal reserve from directly issuing any digital currency of the central retail bank to the Americans.
Find out more: The rapid success of the law on engineering is a need for national security
“Crypto Week” wanted to start with a blow, tumbled in bust. On Tuesday, the House of Representatives voted 196-123 against the future with the law. The Republicans voted “No” were Ann Paulina Luna (FL), Scott Perry (PA), Chip Roy (TX), Victoria SPARTZ (in), Michael Cloud (TX), Andrew Clyde (GA), Eli Crane (AZ), Andy Harris (MD), Marjorie Taylor Greene (GA), Tim Burchett (TN) Ally) and Timgs, and Tim Buchett (TN), Keith Self (TX) and and Timgs, and Tim Buchett (TN), Keith Self (TX) and and Timgs, and Tim Buchett (TN), Keith Ally), and and Timgy (AZ)
According to sources, procedural vote failed for two reasons:
1. The Democrats have chosen to contact an amendment for the release of Epstein files on the vote of the law on engineering *;
Find out more: Big: speaker Johnson is expressed on Epstein files
2. Several Republican representatives thought it contained stolen door provisions to create the infrastructure of a digital bank of the CBDC Central Bank). Chief among them, the representative of Georgia Marjorie Taylor Greene.
I have just voted on the rule of the law on genius because it does not include the ban on the digital currency of the central bank and because President Johnson did not allow us to submit changes to the Act on Engineering.
The Americans do not want a digital currency from the central bank controlled by the government. … pic.twitter.com/nnkeioh0de
– Rep. Marjorie Taylor Greene🇺🇸 (@repmtg) July 15, 2025
And the representative Az Andy Biggs.
The Senate engineering law creates a framework for a digital currency of the central layer in layers (CBDC) and does not guarantee self-cire (the freedom to control your own money).
The leadership of the Chamber must authorize an open amendment process so that the members can debate and freely improve the bill.
– Rep Andy Biggs (@repandybiggsaz) July 15, 2025
Anyway, you cut it, it was a non-starter. However, 11 of these held republicans had a meeting in Jesus with President Trump. It remains to be seen whether the fears concerning the CBDC have been appeased or if the promises of inclusion of the provisions and amendments to the bill have been provided, but it seems that things were smoothed enough that the Chamber takes another stab at the procedural vote to advance the bill.
Trump posted Tuesday evening on Truth Social.
I am in the oval office with 11 of the 12 members of the congress / women necessary to adopt the law on engineering and, after a brief discussion, they all agreed to vote tomorrow morning in favor of the rule. The president of the Mike Johnson room was in the phone meeting and is eager to take the vote as soon as possible. I would like to thank the members of the Congress / Women for their quick and positive response. Make America great again!
Conclusion: with three days in the cryptography week, he always has the potential to end with a blow.
* Luna later explained that the objection was not to publish the Epstein files, but rather a procedural vote on the “previous question”, which would have allowed Democrats to effectively control the soil – in other words, the procedural game.
Publisher’s note: President Trump leads America into the “golden age” while Democrats are desperately trying to stop it.
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