BlockBeats News: On July 17th, the US House of Representatives was deadlocked in a procedural vote to push forward key cryptocurrency legislation on Wednesday. Although preliminary procedural motions were passed earlier, consensus was ultimately not reached on the three core encryption bills entering the final vote.
On the same day, the House of Representatives passed the first procedural motion by a narrow margin of 217-215, deciding to reconsider the debate rules on the legislative advancement method - the process was blocked on Tuesday due to opposition from the House Freedom Caucus. The final voting result was 210 in favor to 218 against, and the Republican Party needs to reverse at least 4 against votes to continue the legislative process.
The focus of controversy is on the stablecoin bill. Although the House of Representatives has its own STANLE bill, this time it will vote on the Senate version of the GENIUS bill. Members of the Liberal Party collectively voted against the stablecoin bill on Tuesday due to their inability to participate in its formulation. According to Politico, President Trump reached an agreement with 11 opposition lawmakers on Tuesday evening, promising to merge the anti CBDC bill with the Clarity Act in exchange for support. But insiders say that this move may lead to some Democrats withdrawing their support.
This vote is the core agenda of Congress' "Crypto Legislation Week". If the market structure bill is passed by the House of Representatives, it will be submitted to the Senate for review; The stablecoin bill can be directly submitted to the president for signature. Insiders pointed out that the leadership of the House of Representatives did not fully consult with the Republican Party before announcing the "Crypto Legislation Week", resulting in repeated setbacks in the legislative process this week.
