Twelve House Republicans blocked Pentagon funding and cryptocurrency legislation on Tuesday.
A House vote to begin debate on a bill to fund the Pentagon for fiscal year 2026, as well as three cryptocurrency-related measures, was blocked by a vote of 196 to 223.
Among the three proposals blocked were the GENIUS Act, which would structure stablecoins, the Digital Asset Market Transparency Act, which would broadly regulate cryptocurrencies, and the Government Oversight of the CBDC, which would ban the issuance of digital currency issued by the Federal Reserve.
Speaker Mike Johnson explained that several Republicans opposed to the bill wanted to combine the House clarity bill and the anti-Civil Rights bill. CBDC into a single legislative package together with the Senate bill GENIUS.
As a result, the House of Representatives has scheduled another procedural vote on the cryptocurrency bills for tomorrow. If it is successful, then debate and a final vote on whether to pass the bills will begin.
Meanwhile, President Donald Trump said that the 11 representatives who voted against the cryptocurrency bill are now in favor of moving forward with the bills. Apparently, the Democratic arguments are quite compelling.