Republican lawmakers on Wednesday sparred over cryptocurrency legislation on the House floor for hours, resulting in the House currently being in limbo.
There was a procedural vote meant to advance crypto measures that was open for three hours — though it was intended to be a five-minute vote — when debate broke out among GOP House members, according to The Hill.
The House is having disagreements on the Guiding and Establishing National Innovation for U.S. Stablecoins, or the “GENIUS Act.”
Congresswoman Marjorie Taylor Greene, who voted against the bill, said House Speaker Mike Johnson, R-La., didn’t allow amendments to be submitted to the act.
“I just voted NO on the Rule for the GENIUS Act because it does not include a ban on Central Bank Digital Currency and because Speaker Johnson did not allow us to submit amendments to the GENIUS Act,” Greene wrote on X. “Americans do not want a government-controlled Central Bank Digital Currency. Republicans have a duty to ban CBDC. President Trump included a ban on CBDC in his January 23rd executive order and Congress must also include the ban on CBDC in the GENIUS Act.”
Republicans had a goal to pass the three crypto bills by Thursday in order to celebrate “Crypto Week,” but the House infighting has halted the efforts.
Congressman Tim Burchett, R-Tenn., announced Wednesday afternoon that the crypto bill is still in limbo.
