Trump Revives GENIUS Act Push After House Vote Collapse

Former President Donald TRUMP intervened to salvage the GENIUS Act, a pivotal crypto-related bill, after a procedural motion failed in the House. The motion, which would have initiated debate on several digital asset bills, was defeated 196-222, with opposition largely from the House Freedom Caucus.

Trump secured commitments from 11 of 12 key lawmakers during an Oval Office meeting, with Speaker Mike Johnson offering telephonic support. The GENIUS Act had faced skepticism over perceived ties to a central bank digital currency (CBDC), though the bill explicitly prohibits the Federal Reserve from creating a retail CBDC.

The legislative setback and subsequent recovery highlight the volatile political landscape for crypto regulation. Market participants will watch whether this intervention translates into tangible progress for blockchain policy.