Trump Claims GOP Holdouts Back His Crypto Bills: What to Know

Key Takeaways: Trump Flips GOP Holdouts on Crypto Bills

🚨 Failed Vote Reversed: House Republicans blocked crypto bills in a 196-223 procedural vote Tuesday, but Trump secured 11 of 12 holdouts’ support hours later .
📜 Three Key Bills: The package includes the GENIUS Act (stablecoin rules), CLARITY Act (SEC/CFTC jurisdiction), and Anti-CBDC Surveillance Act (bans Fed digital currency) .
⚠️ Holdouts’ Demands: Rebels like Marjorie Taylor Greene wanted CBDC bans added to the GENIUS Act and amendment opportunities .
💸 Market Impact: Crypto stocks (Coinbase, Circle, MARA) fell 2–7% after the initial vote failed .
🤝 Trump’s Influence: The reversal underscores Trump’s control over GOP lawmakers despite rare defiance .

1. Why Did House Republicans Block the Crypto Bills Initially?

So like, the House tried to pass this rule Tuesday afternoon—July 15th—right? It needed a simple majority to move three crypto bills forward. But then 13 Republicans broke ranks. They joined all the Democrats voting no. The tally went 196–223, killing the procedural motion . Crazy huh.

Speaker Mike Johnson admitted he saw trouble coming. But he pushed the vote anyway. Why? ‘Cause hardliners insisted the bills—GENIUS, CLARITY, Anti-CBDC—should be merged into one big package instead of separate votes. Johnson called it “the legislative process” but Trump wanted a “clean” stablecoin bill fast .

Oh and get this: Marjorie Taylor Greene blasted the GENIUS Act on X. She said it lacked a CBDC ban and amendments weren’t allowed. “Americans do not want a government-controlled Central Bank Digital Currency,” she wrote . Luna (another holdout) worried about “backdoor” CBDCs too .

Table: GOP Holdouts Who Voted Against the Rule

A table titled "Representatives and Their Primary Objections" lists objections from U.S. representatives about a bill. Includes states and key issues like CBDC and package demands.

\Scalise switched to “no” tactically to enable revote .*

2. How Did Trump Overturn the Failed Vote in Just Hours?

Right after the vote collapsed, Trump posted on Truth Social. He told Republicans to back the bills, calling crypto the “FUTURE” (all caps, typical). But then—9 PM Tuesday—he drops the news: “I am in the Oval Office with 11 of the 12 Congressmen/women necessary...” .

After a “short discussion,” he claimed they flipped. Speaker Johnson phoned in too, backing a revote Wednesday . Trump didn’t name the 11 or explain the “discussion.” Johnson thanked him for “getting involved tonight” .

Political analysts called this a stark power flex. Like, these rebels rarely defy Trump. Yet he got 11 of 12 to fold in hours . What did he offer? Unclear. Maybe CBDC promises? Or pressure on Johnson for amendments?

3. What Exactly Are These Three Crypto Bills Anyway?

Alright, so the bills are kinda technical but here’s the breakdown:

GENIUS Act (S.2412): “Guiding and Establishing National Innovation for U.S. Stablecoins.” Creates federal rules for stablecoin issuers (like Circle). Backed by the Senate already .
CLARITY Act (H.R. 3997): Decides if a crypto asset is a security (regulated by SEC) or a commodity (overseen by CFTC). Clarity’s good, right?
Anti-CBDC Surveillance State Act (H.R. 5403): Blocks the Federal Reserve from issuing a digital dollar. Conservatives fear government spying via CBDC .

Table: Core Features of the Crypto Bills

Chart titled 'Crypto Legislation Overview' with three bills: GENIUS Act, CLARITY Act, and Anti-CBDC Act. Each includes key purpose, status, and controversy. GENIUS Act has passed the Senate; others are House-originated with uncertain support."

Critics like Senator Elizabeth Warren warn GENIUS could “supercharge” Trump-linked crypto ventures (e.g., World Liberty Financial) . Yeah, ethics questions linger.

4. Why Are Republicans So Obsessed With Banning a CBDC?

For conservatives, a Central Bank Digital Currency (CBDC) isn’t just money. It’s a surveillance tool. Imagine the government tracking every coffee or donation you make. That’s their fear .

Trump himself banned CBDC research via executive order on January 23. But Greene and allies want it in law via the GENIUS Act. Ironically, the separate Anti-CBDC Act already exists. But they want it merged for stronger impact .

Economist Garrick Hileman argues CBDC fears belong in “ethics domains, not a payments efficiency bill.” But for rebels, it’s nonnegotiable .

5. What Was the Market Reaction to the Vote Chaos?

When the rule vote failed at first? Crypto stocks tanked immediately. Coinbase (COIN) dropped 4%. Circle (private but with public backers) fell 7%. Even mining firm MARA slid 2% .

Investors hate uncertainty. The bills promised regulatory clarity—especially GENIUS for stablecoins. Delays = panic. After Trump’s deal news, markets stabilized somewhat. But volatility’s expected until final passage .

6. How Does Trump’s Family Crypto Ties Play Into This?

So here’s the awkward bit. Trump’s businesses dove into crypto hard this year. His $TRUMP meme coin, a bitcoin mining venture, and World Liberty Financial (stablecoin firm) all launched .

Democrats cite conflicts of interest. Some pulled support for crypto bills over it. Trump claims he’s making America “lightyears ahead of China.” But critics see self-dealing .

7. What Happens Next With These Bills?

The House revotes Wednesday (July 16) on the rule. With ~11 flipped GOP votes, it’ll likely pass. Then each bill gets debated separately .

GENIUS Act: Heads to Trump’s desk fast (Senate already passed it).
CLARITY Act: Faces Senate skepticism. May get rewritten.
Anti-CBDC Act: Unlikely Senate passage. Symbolic for now.

Johnson also must handle Pentagon funding tied to the same rule vote. Plus, a $9.4B foreign aid clawback expires Friday—adding pressure .

8. Why Does This Show Trump’s Grip on the GOP Is Stronger Than Ever?

Think about it: 12 Republicans defied Trump publicly Tuesday. By 9 PM? 11 caved after one meeting. Only one holdout remains unnamed .

This is Trump’s post-2024 influence peak. He endorsed Johnson after near-ouster in May. Now he’s whipping votes from the Oval Office. When he says “jump,” most ask “how high?” .

Still, Greene’s CBDC demands might resurface in amendments. Trump’s deal probably included something for rebels. We’ll see if Johnson allows changes post-rule vote .

Frequently Asked Questions

Q: Did all 13 Republican holdouts agree to back the bills?

A: Trump claimed 11 of 12 agreed. One holdout didn’t flip. Steve Scalise’s “no” was tactical, not oppositional .

Q: Will the Anti-CBDC Act become law?

A: Unlikely. The Senate opposes it. The GENIUS Act is the priority .

Q: Why do crypto regulations matter for markets?

A: Clarity = stability. Rules attract institutional investors. Delays cause sell-offs like Tuesday’s 4–7% drops .

Q: What conflicts of interest does Trump have?

A: His family launched $TRUMP coin, World Liberty Financial, and crypto mining firms. Profits could rise under favorable laws .

Q: When will the final House votes happen?

A: Likely Thursday or Friday (July 17–18) after Wednesday’s rule vote .

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