'Crypto Week' Hits a Roadblock as House Cancels Makeup Vote for Crypto Bills

The House of Representatives is done for the day and won't be voting on a procedural motion to advance a trio of crypto bills, according to the website tied to House Majority Whip Tom Emmer.

As it sped into Crypto Week on Tuesday, the U.S. House's process toward passing digital assets bills ground to a sudden halt over a procedural vote as the House Freedom Caucus objected to the way some of the legislation has developed under Senate dominance.

The misfire on the procedural vote quickly hit the crypto markets over uncertainty about the good news expected this week when the House was expected to pass two of the industry's top priorities.

The legislation still has strong, bipartisan support, suggesting the procedural mishap may be overcome as a further vote was scheduled for later Tuesday afternoon. This vote was canceled less than 15 minutes before it was set to begin.

U.S. President Donald Trump urged Republicans to vote in favor of the rule earlier Tuesday in a post on Truth Social, saying passing GENIUS would help keep the U.S. ahead of other countries in crypto development.

Bitcoin (BTC) and ether (ETH) each knee-jerked lower by about 0.5% on the news, but both have recovered most of those declines. High-flying stablecoin issuer Circle (CRCL) has moved to its session low on the news, falling nearly 5% on the day. The stock remains higher by roughly sixfold since its IPO last month.

Procedural disruptions can be the norm in the legislative process. As the GENIUS Act headed toward passage in the Senate, a group of Democrats slammed the breaks to object to certain provisions and force more discussion. It's uncertain whether a similar delay could be forced by unhappy Republicans on this week's bills.

UPDATE (July 15, 21:03 UTC): Updates headline, story throughout to add that a 5pm ET voting has been canceled.