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By Jesse Hamilton, Stephen Alpher, Nikhilesh De|Edited by Aoyon Ashraf
Updated Jul 16, 2025, 1:00 a.m. Published Jul 15, 2025, 7:11 p.m.
- Debates among House Republicans delayed a procedural vote Tuesday to set the guardrails for how crypto bills will proceed this week, momentarily roiling crypto markets.
- The crypto industry has been set for celebration as Crypto Week proceeds in the House, and votes have been expected on two major bills to set regulations for digital assets markets and for stablecoin issuers.
The House of Representatives is done for the day and won’t be voting on a procedural motion to advance a trio of crypto bills, but may vote early Wednesday to advance the legislation.
As it sped into its crypto-focused week on Tuesday, the U.S. House’s process toward passing digital assets bills ground to a sudden halt over a procedural vote as members of the House Freedom Caucus objected to the way some of the legislation has developed under Senate dominance.
STORY CONTINUES BELOW
The misfire on the procedural vote quickly hit the crypto markets over uncertainty about the good news expected this week when the House was expected to pass two of the industry’s top priorities.
The legislation still has strong, bipartisan support, suggesting the procedural mishap may be overcome as a further vote was scheduled for later Tuesday afternoon. This vote was canceled less than 15 minutes before it was set to begin, so the matter may not be raised against until early Wednesday — the same day the Digital Asset Markets Clarity Act was set to be voted on.
“We are likely to get another House vote tomorrow on the rule,” said Jaret Seiberg, a policy analyst for TD Cowen, in a note to clients on Tuesday. “If that does not happen, this could fall to next week.”
U.S. President Donald Trump urged Republicans to vote in favor of the rule earlier Tuesday in a post on Truth Social, saying passing the GENIUS Act on stablecoin regulation would help keep the U.S. ahead of other countries in crypto development.
In another post late Tuesday, he said he met with 11 lawmakers who “all agreed” to vote in favor of the rule. Though a timing was not immediately set, Trump said the procedural vote should happen “as early as possible.”
“We still expect the House will pass the GENIUS Act because President Trump is pushing for its enactment,” Seiberg said. “Our view is that members of the House Freedom Caucus will relent to the President’s demand even though they object to having to accept the Senate version of the bill.”
Bitcoin
and ether(ETH)each knee-jerked lower by about 0.5% on the news, but both have recovered most of those declines. High-flying stablecoin issuer Circle(CRCL)has moved to its session low on the news, falling nearly 5% on the day. The stock remains higher by roughly sixfold since its IPO last month.
Procedural disruptions can be the norm in the legislative process. As the GENIUS Act headed toward passage in the Senate, a group of Democrats slammed the breaks to object to certain provisions and force more discussion. It’s uncertain whether a similar delay could be forced by unhappy Republicans on this week’s bills.
UPDATE (July 15, 21:03 UTC): Updates headline, story throughout to add that a 5pm ET voting has been canceled.
UPDATE (July 15, 21:39 UTC): Adds comment from analyst from TD Cowen on next steps.
UPDATE (July 16, 01:00 UTC): Adds latest Trump post.
Jesse Hamilton is CoinDesk’s deputy managing editor on the Global Policy and Regulation team, based in Washington, D.C. Before joining CoinDesk in 2022, he worked for more than a decade covering Wall Street regulation at Bloomberg News and Businessweek, writing about the early whisperings among federal agencies trying to decide what to do about crypto. He’s won several national honors in his reporting career, including from his time as a war correspondent in Iraq and as a police reporter for newspapers. Jesse is a graduate of Western Washington University, where he studied journalism and history. He has no crypto holdings.
Stephen is CoinDesk’s managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania’s Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
Nikhilesh De is CoinDesk’s managing editor for global policy and regulation, covering regulators, lawmakers and institutions. He owns < $50 in BTC and < $20 in ETH. He won a Gerald Loeb award in the beat reporting category as part of CoinDesk’s blockbuster FTX coverage in 2023, and was named the Association of Cryptocurrency Journalists and Researchers’ Journalist of the Year in 2020.
