GENIUS Act Suffers Setback In Crypto Week After Failure To Pass Key Vote

The widely anticipated Crypto Week is off to a shaky start with the House failing to pass a crucial procedural motion. However, House members will reconvene for another round of voting as the GENIUS Act passage hangs in the balance.

House Fails To Pass Key Vote To Get Crypto Week Underway

The US House of Representatives has voted against proceeding with the consideration of a raft of bills. According to an X post by US-based journalist Jake Sherman, the House voted 196-222 on the procedural motion, putting a cog in the wheels of the Crypto Week.

The vote adversely affects a pair of crypto-related bills that the House is scheduled to consider and another defense spending bill. Sources say lawmakers are opting to vote against considering the bills over bundling the GENIUS Act with other cryptocurrency bills.

House members are expected to attempt the key procedural vote later in the day but it remains unclear if the vote will sail through. Previously, Trump has urged Republican lawmakers to vote in favor of the bills, noting that the GENIUS Act will put the US ahead of its peers.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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