NATIONAL NEWS

Republicans declared it ‘crypto’ week in the House. It’s not going as planned

Jul 15, 2025, 4:39 PM

House Majority Whip Tom Emmer, R-Minn., left, a longtime supporter of cryptocurrency, joined at rig...

House Majority Whip Tom Emmer, R-Minn., left, a longtime supporter of cryptocurrency, joined at right by Speaker of the House Mike Johnson, R-La., discusses legislation in the week ahead that could impact the industry, during a news conference at the Republican National Committee headquarters in Washington, Tuesday, July 15, 2025. (AP Photo/J. Scott Applewhite)
Credit: ASSOCIATED PRESS

(AP Photo/J. Scott Applewhite)

WASHINGTON (AP) — A trio of cryptocurrency bills that had been expected to pass the House this week stalled on Tuesday after a bloc of Republicans unexpectedly joined with Democrats to prevent the legislation from coming up for debate and votes.

The procedural snafu brought the House’s so-called “crypto week” to a standstill — and dealt a blow to crypto capital of the world.”

A group of 13 Republicans joined all Democrats in opposition to a procedural vote needed to bring the crypto bills to the floor. Speaker Mike Johnson told reporters it was just part of “legislative process” and that negotiations were underway between the House, Senate and White House. He suggested they could try again Tuesday evening.

“We expected there might be some ‘no’ votes, but we thought it was important to put it on the floor to advance it because time’s of the essence on this,” Johnson said. “So stay tuned. We’ll have lots of discussions over the next few hours.”

But just hours later, House leadership canceled votes for the remainder of the day, potentially throwing the crypto bills into limbo.

The stalled legislation includes a Senate-passed bill to regulate a form of cryptocurrency known as stablecoins, along with far more sweeping measures aiming to address cryptocurrency market structure. Another bill would prohibit the Federal Reserve from issuing a central bank digital currency.

The disagreement blocking the bills from advancing centers on how the three bills would be passed. Johnson explained that “some of these guys insist that it needs to be all in one package.” Packaging the bills would require them to be sent back to the Senate, since the chamber has only taken up one of the three bills so far.

Rep. Glenn Thompson of Pennsylvania, a Republican co-sponsor of one of the cryptocurrency bills, told reporters that some of the Republicans wanted to package the bills together due to them “not having a lot of faith in the Senate moving our legislation.”

Trump and Republican leaders have called on the House to pass the bills individually, so that the stablecoin legislation can get to Trump’s desk for his signature before an August recess. The stablecoin legislation took the Senate nearly a month and half to pass, and the more sweeping market structure legislation is expected to take even longer.

In a post Tuesday morning on social media, Trump called on Republicans to advance the crypto bills that afternoon, saying that “all Republicans should vote ‘yes.’” Asked Tuesday evening about the stalled legislation, Trump told reporters that Republicans who voted against it wanted it to be “stronger.”

Trump has pushed hard for the passage of the stablecoin legislation, with him and his family standing to profit from a boost to stablecoins. They hold a significant stake in World Liberty Financial, a crypto project that recently launched its own stablecoin, USD1.

The stablecoin legislation passed by the Senate includes a provision that bars members of Congress and their families from profiting off stablecoins. But notably, that prohibition does not apply to the president or his family, even as Trump builds what some are calling a crypto empire from the White House.

The cryptocurrency industry hopes the bills as a whole will aid in their push for legitimacy and increasing consumer trust. And road bumps like those seen Tuesday may not have been expected after spending heavily in the 2024 election to elect a large number of crypto-friendly lawmakers.

Faryar Shirzad, chief policy officer of Coinbase, the nation’s largest cryptocurrency exchange, said in a statement after the failed procedural vote that “every few steps forward there’s inevitably a step back.”

“It’s in these moments we’ll see who is trying to get pro-crypto legislation done and who is not,” Shirzad said on social media.

Passage of the bills could have implications on the 2026 midterm races. Fairshake, a crypto super political action committee, said that it and its affiliated organizations already have more than $140 million in the bank ready to spend on midterm races.

“The voters last year were clear — Congress needs to stop playing politics with crypto and finally pass responsible regulation,” said Josh Vlasto, spokesperson for Fairshake. “We are building an aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country.”

___

Associated Press writer Lisa Mascaro contributed to this report.

National News

fort stewart georgia shooting...

Associated Press

5 soldiers shot before arrest made at Army’s Fort Stewart in Georgia

Five soldiers were shot Wednesday at Fort Stewart in Georgia, leading to a lockdown at the Army base before the shooter was arrested, officials said.

8 hours ago

Titan...

Associated Press

Titan sub disaster was caused by weak safety and oversight, Coast Guard says

The Coast Guard said the Titan sub disaster was caused by weak safety and oversight.

1 day ago

Texas...

Associated Press

Why dozens of Democrats left Texas and how Republicans want to punish them

Dozens of Democratic state lawmakers in Texas have scattered to points across the country.

2 days ago

The U.S. Capitol, Wednesday, July 16, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson)Credit...

Associated Press

August recess can’t hide tensions ahead for Congress on spending and Trump nominations

WASHINGTON (AP) — Lawmakers have left Washington for the annual August recess, but a few weeks of relative quiet on the U.S. Capitol grounds can’t mask the partisan tensions that are brewing on government funding and President Donald Trump’s nominees. It could make for a momentous September. Here’s a look at what’s ahead when lawmakers […]

2 days ago

FILE - Damage can be seen to a front window as law enforcement officers work the scene of a shootin...

Associated Press

Arkansas man sentenced to life without parole for 2024 mass shooting at grocery store

FORDYCE, Ark. (AP) — An Arkansas man who killed four people and injured 11 others last year in a mass shooting at a grocery store was sentenced Monday to life in prison without parole. A state judge sentenced Travis Eugene Posey to four life sentences for each count of capital murder. Posey was also sentenced […]

2 days ago

Sen. Mitch McConnell, R-Ky., speaks at the annual Fancy Farm picnic Saturday, Aug. 2, 2025, in Fanc...

Associated Press

Mitch McConnell’s legacy comes under fire in Kentucky race to replace him in the Senate

CALVERT CITY, Ky. (AP) — Republican Nate Morris had deftly warmed up a crowd of party faithful, gushing about President Donald Trump and recounting his own life’s journey — from hardscrabble childhood to wealthy entrepreneur — when he turned his attention to the man he wants to replace, Sen. Mitch McConnell. That’s when things got […]

2 days ago

Republicans declared it ‘crypto’ week in the House. It’s not going as planned