Share this article
'Crypto Week' Back on Track After Lengthy House Do-Over Vote
After a marathon nine-hour vote, Republicans advanced crypto legislation to final votes.
By Nikhilesh De
Updated Jul 17, 2025, 3:37 a.m. Published Jul 17, 2025, 3:05 a.m.
Make us preferred on Google
What to know:
- Lawmakers cleared a procedural hurdle to move to final votes on key crypto legislation late Wednesday, after failing to do so on Tuesday.
- The vote, which went on for nine hours, saw a handful of Republicans vote "no" until securing an agreement to attach an anti-central bank digital currency provision to the National Defense Authorization Act.
- A final vote on stablecoin legislation to send it to the President may take place as soon as Thursday.
The U.S. House of Representatives — after a record-breaking nearly 10-hour procedural vote — finally moved to advance to a final poll on key crypto legislation in a procedural move Wednesday.
The House narrowly passed an earlier procedural vote to reopen a motion to debate after that motion failed on Tuesday when the House Freedom Caucus voted against advancing to debate and a final vote. While the rules motion is procedural, a majority of lawmakers need to vote in favor before the House can vote on the actual bills.
STORY CONTINUES BELOW
Wednesday's vote means that the Clarity Act and GENIUS Act will receive final votes. The first procedural measure passed 217-215, suggesting to industry observers that the bills may pass smoothly, but the second vote — which began at 1:19 p.m. ET and ended at 11:04 p.m. ET — dragged on for a few hours after a handful of Republicans initially voted "no," though the final vote saw the motion pass 217-212.
Members of the House Freedom Caucus leveraged their votes to force an anti-CBDC bill to be tied to the National Defense Authorization Act, a must-pass bill that both chambers of Congress — the House and the Senate — vote on every year. This possibility was floated earlier in the day, two individuals familiar told CoinDesk.
House Freedom Caucus Members reached an agreement tonight to advance the President’s cryptocurrency agenda and, as part of this agreement, the National Defense Authorization Act (NDAA) will include strong anti–Central Bank Digital Currency (CBDC) protections in this must-pass…
— Rep. Andy Harris, MD (@RepAndyHarrisMD) July 17, 2025
Typically, in a procedural vote, the majority party and minority parties keep to party-line votes, regardless of whether the underlying legislation is expected to receive bipartisan support, as the crypto bills are expected to.
Read more: 'Crypto Week' Is Stuck Again as House Procedural Vote Drags On
As the vote dragged on, a "Dear Colleague" letter sent to House Democrats urged them to vote no on the underlying bills, pointing to the difficulties Republicans were having in clearing the procedural hurdle.
"Can we trust legislation when it’s in the hands of people who wreak chaos on even their own top priorities?" said the letter, seen by CoinDesk. "How can we trust how they will act when it’s time for serious implementation of the provisions of this legislation? America does not need the Crypto Chaos being delivered by House Republicans."
The House will vote on the GENIUS Act on Thursday, and if it passes, it will go to U.S. President Donald Trump's desk for his signature. The Clarity Act may receive a vote next week, Punchbowl News reported.
While the market structure Clarity bill will go to the Senate for a vote, the GENIUS bill's next stop is the president's desk for his signature. Both bills are expected to see bipartisan support, at least before Wednesday's hangup.
Read more: House's Crypto Markets Bill on Track, But Some in Industry Hope For Senate Overhaul
UPDATE (July 17, 2025, 03:37 UTC): Adds Andy Harris tweet.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
Больше для вас
Ukraine banned Polymarket and there’s no legal way for it to come back
Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
Что нужно знать:
- Ukraine has no legal framework for Web3 prediction markets, and current legislation provides no recognition for such platforms.
- Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
- Legal changes are unlikely in the near future, as Parliamentary revisions to gambling definitions are extremely improbable during wartime, leaving prediction markets in a legal deadlock.
Top Stories
