Trump Claims House GOP Will Support His Crypto Bills

President Trump asserts House GOP members are shifting their stance on crypto legislation.

Trump Claims House GOP Will Support His Crypto Bills

On Tuesday, President Trump announced that most House Republicans who previously blocked a procedural vote on his crypto bills are now in favor of the legislation. This statement follows a vote where thirteen Republicans joined Democrats in opposing the motion to advance three key bills related to cryptocurrency. During a recent Oval Office meeting, Trump claimed that 11 of the 13 holdouts agreed to support the legislation moving forward. The bills include the GENIUS Act, which aims to regulate stablecoins, but some members express concerns over aspects of the proposed regulations. The House is expected to revisit the vote soon, as these crypto policies have significant implications for Trump's business ventures.Y

Trump's engagement with House Republicans highlights a crucial moment in cryptocurrency regulation. His ability to rally support may speak to larger trends in how cryptocurrency is perceived within the GOP. However, divisions remain, particularly regarding the inclusion of a ban on central bank digital currencies in the GENIUS Act. The outcome of this legislative effort not only impacts the regulatory landscape for digital currencies but also raises questions about political motivations, given Trump's business interests in this sector.

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The coming days will be critical in determining the fate of these bills and the issues surrounding them.