After a record-breaking 9-hour procedural vote, the US House of Representatives passed a resolution allowing debate on important crypto asset bills, while committing to transfer the CBDC ban to the National Defense Authorization Act.
The US House of Representatives officially paved the way for discussing three important crypto asset bills after breaking a deadlock in a procedural vote lasting over 9 hours – a record in the history of this legislative body. The deadlock originated from opposition by a group of conservative Republican representatives who demanded a clear commitment to ban Central Bank Digital Currency (CBDC) before proceeding.
At the end of July 16, the final agreement was passed with a narrow vote of 217-212, allowing the bills to be brought to the floor for debate. This move occurred in a context where Republican House Leadership called this week the "Crypto Asset Week", demonstrating a determination to build a clear legal framework for the digital asset industry.
The bill package includes three key documents: the CLARITY Act on digital asset market structure, the Anti-CBDC Surveillance Act aimed at preventing digital currency surveillance, and the GENIUS Act on stablecoin regulation. However, the biggest obstacle was not in the bills themselves but in the CBDC issue – a topic deeply dividing the Republican Party internally.
The opposing Republican representatives disrupted the process, concerned that passing these bills without a clear CBDC ban could indirectly create a precedent for a government-controlled digital currency. Representative Keith Self, one of the leaders of the opposition, expressed concerns that the GENIUS Act would pave the way for CBDC, despite the bill's provisions clearly stating it does not expand the Federal Reserve's authority to issue CBDC.
To resolve the deadlock, House Majority Leader Steve Scalise proposed a strategic solution. Instead of integrating the CBDC ban into crypto asset bills – an action that might make them difficult to pass in the Senate – the Republican side committed to introducing this content in the National Defense Authorization Act (NDAA).
The NDAA is the mandatory annual defense budget bill, considered a more reliable vehicle to legislate the CBDC ban. This concession persuaded enough hardline representatives to change their votes, ending the historic voting session.
With the deadlock cleared, the House is expected to vote separately on the GENIUS Act and CLARITY Act in the coming days. This development shows that digital assets are becoming an increasingly important political issue in Washington, where internal party struggles could shape the future of this emerging financial technology industry.
