The U.S. House of Representatives blocks the Crypto Assets bill, stifling regulatory momentum.

Editor: Peter_Techub News

On Tuesday, the U.S. House of Representatives voted 196-223 to reject three important cryptocurrency bills, significantly hampering efforts to establish a clear regulatory path for the U.S. cryptocurrency industry.

This procedural vote has stalled the event known as "Crypto Week," during which lawmakers were supposed to vote on comprehensive legislation related to stablecoins, digital asset classification, and central bank digital currencies.

The core of the omnibus bill is the GENIUS Act (Guiding and Establishing the U.S. Stablecoin National Innovation), which passed in the Senate with strong bipartisan support (68-30). The bill requires stablecoins to be backed 1:1 by U.S. dollars or similar liquid reserves, imposes annual audits on large issuers, and provides clear registration guidelines for foreign issuers.

In addition, the CLARITY Act has also been included on the agenda, which aims to address the jurisdictional confusion between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) by categorizing digital assets as securities and commodities. Meanwhile, the Anti-CBDC Surveillance State Act attempts to prohibit the Federal Reserve from issuing a digital dollar on the grounds of privacy concerns.

The failed vote opposed by 210 Democrats and 13 Republicans has stalled the progress of what many consider to be a landmark piece of legislation. Aides said another vote might take place later on Tuesday, but it seems uncertain whether it will pass.

For the cryptocurrency industry, this delay may prolong market uncertainty. These bills promise clear regulation, which could encourage institutional adoption of Bitcoin and solidify its recent surge past $123,000. However, analysts warn that without progress on the legislative front, the market will experience volatility again.

However, optimism still exists. If the Republican Party in the United States can repackage and reintroduce these bills later this week, momentum may return—along with the possibility of broader regulation of cryptocurrencies in the U.S.