President Donald Trump announced Tuesday night that he reached a tentative agreement with nearly all House Republicans who earlier blocked a key procedural vote, reopening the path for a slate of cryptocurrency-related bills to move forward in the House.
Trump made the announcement on Truth Social after meeting with 11 of the 13 GOP lawmakers who voted against the rule earlier in the day. “I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” he wrote. Speaker Mike Johnson joined the meeting by phone.
The agreement followed a surprise GOP rebellion that stalled what Republicans had branded “Crypto Week” — a coordinated legislative push behind three bills: the GENIUS Act, CLARITY Act, and Anti-CBDC Act. The rebellion reset that plan, delaying votes that had backing from both Trump and House GOP leadership.
Thirteen Republicans, including Reps. Chip Roy (Texas), Andy Biggs (Ariz.), Marjorie Taylor Greene (Ga.), and Ann Paulina Luna (Fla.), voted against the rule. House Majority Leader Steve Scalise (R-La.) also voted “no” as a procedural maneuver to preserve the ability to bring the rule up again.
What Trump promised the defectors to flip their votes remains unclear.
Speaker Johnson credited Trump with resolving the standoff. “I’m thankful for President Trump getting involved tonight to ensure that we can pass the GENIUS Act tomorrow and agreeing again to help us advance additional crypto legislation in the coming days,” Johnson said.
The GENIUS Act centers on stablecoins — digital tokens pegged to the U.S. dollar. Supporters say it creates guardrails for innovation. Critics warn the bill could allow politically connected stablecoin holders to skip ahead of ordinary depositors in a banking crisis. It also leaves loopholes that might let lawmakers or their families profit from launching their own coins, a concern amplified by allies of Trump promoting a private “Trump Coin.”
The CLARITY Act aims to define how crypto assets are regulated, but even some Republicans argue it muddies the waters. The 200-plus page bill introduces new categories like “tradable assets” and “digital commodities,” which critics say could complicate enforcement instead of simplifying it. A bipartisan provision banning members of Congress and their families from trading crypto was reportedly removed after White House objections.
Some lawmakers argue Congress shouldn’t be setting crypto rules in the first place — they believe federal agencies like the Security and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) should handle oversight using current laws.
The Anti-CBDC Act targets central bank digital currencies, which some Republicans view as a federal overreach and a threat to financial privacy.
Sen. Josh Hawley (R-Mo.) and others have raised concerns that the legislation could give tech giants too much leeway to launch their own currencies with minimal regulation. National security concerns have also surfaced. A bipartisan group of senators withdrew support earlier this year, citing insufficient safeguards against money laundering and foreign interference.
House Republicans plan to hold a revote on the rule as early as Wednesday.
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