President Donald Trump’s “Crypto Week” hit a major snag on July 15, 2025, as the House rejected a key procedural vote for the GENIUS Act, 196-223, with 13 Republicans joining Democrats.
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President Donald Trump’s ambitious “Crypto Week” suffered a stunning blow on Tuesday, July 15, 2025, as the House of Representatives rejected a critical procedural vote for the GENIUS Act. The vote ended 196-223, with an unexpected 13 Republicans breaking ranks to side with Democrats, stalling a cornerstone of Trump’s push to make America the global crypto leader. This rare defiance against Trump’s directive, issued earlier via Truth Social, has left the crypto industry reeling, with House leadership scrambling to schedule a second vote later Tuesday. The setback underscores growing tensions within the GOP over the administration’s crypto ties.
The failure comes amid high stakes, with Trump touting the GENIUS Act as a game-changer in a morning Truth Social post. “The House will soon VOTE on a tremendous Bill to Make America the UNDISPUTED, NUMBER ONE LEADER in Digital Assets,” he wrote, urging all Republicans to vote yes. He hailed the bill as putting the US “lightyears ahead of China, Europe, and all others,” framing digital assets as the future. Yet, the market reacted swiftly, with Circle’s stock dropping over 7%, Coinbase falling more than 4%, and MARA Holdings dipping 2%, reflecting investor unease.
What’s Next for Crypto Legislation?
The immediate aftermath sees House leaders eyeing a second vote, though uncertainty looms over its form. It’s unclear if the new vote will mirror the failed rule or include tweaks to win over defectors, a move that could delay or reshape the package. This “Crypto Week,” billed to advance the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act, now hangs in the balance, with some Republicans questioning the bill’s implications amid Trump’s personal crypto ventures.
Critics, including Democrats, argue it lacks robust consumer protections, while the market watches for signs of recovery or further collapse. The outcome could redefine US crypto policy, or deepen the legislative gridlock.
