Crypto Relief: House Passes Bills After Trump CBDC Deal
Key Takeaways
Following intense negotiations, House Republicans advanced key crypto bills by separating the CBDC ban into a defense package, with President Trump’s approval.
The crypto industry, recently facing significant headwinds in Washington, has found renewed optimism after a surprising political turn.
Reports indicate that a late-night meeting with President Donald Trump and subsequent negotiations have injected fresh momentum into stalled crypto legislation.
A Ray of Hope for Crypto Legislation
The U.S. House has taken a crucial first step toward advancing crypto legislation. The decision to merge the CLARITY Act with an anti-CBDC bill initially caused internal tensions.
Speaker Mike Johnson is actively working with Republican committee chairs and conservative members to maintain momentum around the crypto legislation.
To prevent a collapse, negotiators are considering alternative strategies, potentially integrating the CBDC provision into essential legislation such as the annual defense bill or the reauthorization of surveillance powers.
Several GOP lawmakers, including Agriculture Chair G.T. Thompson and Financial Services Chair French Hill, have not yet voted on the procedural rule.
The Shift in Mindset
Despite initial pessimism, the House passed three cryptocurrency-related bills and the 2026 defense budget in a close 217–212 vote on July 16th.
The breakthrough occurred after GOP hard-liners withdrew their opposition, resolving a tense standoff with committee leaders who had crafted the legislation.
According to reports, the GOP rebels had initially pushed to merge the bipartisan CLARITY Act with a separate bill banning a CBDC, a move opposed by Financial Services Chair French Hill and Agriculture Chair G.T. Thompson due to concerns it would lose Democratic support.
An agreement was reached to link the CBDC prohibition to a standalone defense authorization measure.
President Trump was briefed on this last-minute agreement and approved it, according to sources present during the discussion. One person confirmed, “he’s happy with it.”
House Speaker Johnson stated, “This breaks the logjam, allows us to get our work done.”
Further Developments
Johnson also discussed incorporating the CBDC ban into the National Defense Authorization Act (NDAA) with Senate Republican Leader John Thune.
With the procedural vote concluded, the House is set to advance the crypto bills in the coming days.
Speaker Johnson indicated that the House is likely to vote on the Senate-backed GENIUS Act, which focuses on stablecoin oversight, as early as July 17th. If passed, this would be the first major crypto legislation to reach President Trump’s desk, marking a significant victory for the industry.
The cleared procedural path will also facilitate swift action on an amended package of spending rescissions requested by Trump.
As the House resolves its crypto standoff, the Senate is also working to pass the rescissions package before the July 18th deadline.
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