House Passes Crypto and Spending Bills After Standoff: Key Updates
House Advances Cryptocurrency Legislation Amid GOP Negotiations
Key Developments in Cryptocurrency Bills
Late Wednesday, the House of Representatives moved forward with three significant cryptocurrency-related bills alongside a defense spending proposal for 2026. This advancement came after a faction of Republican hard-liners eased their resistance, following a day filled with intense negotiations and unexpected shifts among party leaders.
Vote Outcome and Legislative Dynamics
The House’s decision to progress the bills was narrowly approved with a vote of 217 to 212. This outcome followed a prolonged closed-door standoff involving conservative members and the leaders of the Financial Services and Agriculture committees, who were instrumental in drafting the cryptocurrency legislation. The voting process was notably extended for over nine hours to facilitate ongoing discussions.
GOP Hard-Liners’ Strategy and Concerns
Initially, the hard-liners had derailed a procedural vote on the legislation the previous day. They advocated for the integration of a comprehensive cryptocurrency market structure bill, referred to as the “CLARITY Act,” with a separate partisan initiative aimed at prohibiting a central bank digital currency.
Leadership’s Position on Legislative Strategy
The Republican chairs of the Financial Services and Agriculture committees, Representatives French Hill from Arkansas and G.T. Thompson from Pennsylvania, expressed their opposition to this merging strategy. They were concerned that such a move could jeopardize the bipartisan support necessary for the market structure bill to succeed.
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