Trump Claims He Flipped GOP Holdouts on Crypto Bills

Crypto laws in the U.S. hit a bump this week, but Donald Trump says he is smoothing things over. After several Republicans unexpectedly pulled support for three major crypto bills, Trump stepped in and says he convinced most of them to get back on board.

Good to know

• Trump says 11 out of 12 Republican lawmakers who held up the vote now plan to support the GENIUS Act.
• The delay came from a group of Republicans demanding a ban on central bank digital currencies (CBDCs).
• House is scheduled to try again Wednesday morning after adjourning without a vote on Tuesday.

The vote originally expected on Tuesday was stalled when 13 Republican lawmakers said no. They wanted more assurance that a central bank digital currency would be blocked completely. Some pushed for changes to the GENIUS Act, while others wanted it bundled with two related bills—the Anti-CBDC Surveillance Act and the CLARITY Act.

Trump responded quickly. He posted on Truth Social that he had met with 11 of the 12 lawmakers in the Oval Office and secured their support. “I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” he wrote.

Trump Steps In to Rescue Crypto Week

The three crypto bills are central to what Republican leadership has called “Crypto Week,” aimed at pushing through legislation before the August recess. But internal disagreements over CBDCs nearly derailed the entire effort.

Speaker Mike Johnson thanked Trump publicly for stepping in, posting on X, “I’m thankful for President Trump getting involved tonight to ensure that we can pass the GENIUS Act tomorrow, and agreeing again to help us advance additional crypto legislation in the coming days.”

The GENIUS Act is designed to regulate stablecoins, while the Anti-CBDC Surveillance Act is intended to prevent the Federal Reserve from issuing a digital dollar. Trump’s January executive order already called for banning the creation of a CBDC.

CBDC Concerns Lead to Republican Rebellion

Despite broad support for crypto legislation, a group of Republicans dug in, saying they would not support the bills without stronger language blocking any future central bank digital currency. Marjorie Taylor Greene, Andy Biggs, Anna Paulina Luna, and others expressed frustration not just with the bills, but with the way they were being pushed forward.

“I just voted NO on the Rule for the GENIUS Act because it does not include a ban on central bank digital currency and because Speaker Johnson did not allow us to submit amendments,” Greene said on X.

Biggs echoed those thoughts, saying the GENIUS Act left room for a layered CBDC system and failed to guarantee self-custody. He added, “House Leadership must allow an open amendment process so Members can freely debate and improve the bill.”

The bill package was expected to move forward Tuesday, but the House adjourned without a vote. Now, with Trump’s push, lawmakers are preparing to try again when the House reconvenes Wednesday morning.

Democrats are not sitting quietly. They have framed the effort as “anti-crypto corruption week,” showing resistance to the push and questioning the timing and priorities behind the legislation.