From Crypto Chaos to Capitol Comeback: Trump Saves the Day 🚀

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Key Takeaways

After a whirlwind of negotiations, House Republicans have managed to advance key crypto bills by cleverly separating the CBDC ban into a defense package, with a nod from the one and only, President Trump. 🤝

Just when the crypto industry was feeling like it had been hit by a particularly nasty bout of Washington blues, a surprising political pivot has brought a glimmer of hope. 🌟

According to Politico, less than 24 hours after conservative Republicans seemed to have derailed the crypto train, a sudden reversal has injected new life into the proceedings. 🚂

It all started with a late-night meeting with President Donald Trump and some eleventh-hour negotiations, which have now set the stage for a dramatic comeback. 🎉

A Ray of Hope

The U.S. House has now taken a critical first step toward advancing legislation, though the decision to merge the CLARITY Act with an anti-CBDC bill is already causing some raised eyebrows on Capitol Hill. 🤔

Speaker Mike Johnson is now working behind the scenes with Republican committee chairs and conservative dissenters to salvage momentum around the crypto legislation. 🕵️‍♂️

To avoid a complete collapse, negotiators are exploring alternative routes, possibly moving the CBDC provision into other must-pass legislation, like the annual defense bill or the reauthorization of surveillance powers. 🛡️

Meanwhile, over a dozen GOP lawmakers, including Agriculture Chair G.T. Thompson and Financial Services Chair French Hill, are still on the fence about the procedural rule. 🤔

What Led to the Shift in Mindset?

However, not everything is so grim. 🌞

Following extended closed-door negotiations, the House on July 16th passed three cryptocurrency-related bills and the 2026 defense budget in a tight 217–212 vote. 🗳️

The breakthrough came after GOP hard-liners dropped their opposition, ending a tense standoff with committee leaders who crafted the legislation. 🤝

Politico noted that the rebels had pushed to merge the bipartisan CLARITY Act with a separate bill banning a CBDC, a move that was opposed by Financial Services Chair French Hill and Agriculture Chair G.T. Thompson over fears it would kill Democratic support. 🙅‍♂️

An agreement was ultimately reached, with GOP leaders deciding to link the CBDC prohibition to a standalone defense authorization measure. 🛡️

President Trump was briefed on the last-minute agreement and gave it his approval, according to two sources present during the discussion. And, as expected, “he’s happy with it,” one person confirmed. 😊

House Speaker Johnson hailed the breakthrough, saying,

“This breaks the logjam, allows us to get our work done.”

What’s More?

Johnson also spoke with Senate Republican Leader John Thune about incorporating the CBDC ban into the National Defense Authorization Act (NDAA), according to individuals familiar with the conversation. 📞

With the procedural vote now behind them, the House is set to move forward on the crypto bills in the coming days. 🗓️

Speaker Johnson signaled that the House is likely to vote on the Senate-backed GENIUS Act, which centers on stablecoin oversight, as early as July 17th. 🚀

If passed, it would mark the first major crypto legislation to reach President Trump’s desk, a significant win for the industry. 🏆

The cleared procedural path will also enable swift action on an amended package of spending rescissions requested by Trump. 📝

Now, as the House settles its crypto standoff, the Senate continues pushing to pass the rescissions package ahead of the deadline on July 18th. 🏃‍♂️

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2025-07-17 22:20