The plans of Republican leaders in the House of Representatives to approve three regulatory measures supported by the cryptocurrency industry faced an obstacle on Tuesday, not being able to overcome an important procedural vote.
Republican conservatives rebelled because they wanted changes in a bill on stablecoins Supported by industry, while the House leaders tried to advance with a procedure that prevents the presentation of amendments, according to deputies Marjorie Taylor Greene (Georgia) and Tim Burchett (Tennessee), who were among the dissidents.
The House voted 196 to 222 against the adoption of a necessary step to initiate the analysis of the industry -supported cryptocurrency projects.
The actions related to cryptocurrencies, such as Robinhood and Coinbase, fell with the news, and Bitcoin – which came in a new high record – retreated about 3%. The Internet Circle, broadcaster of the second largest Stablecoin, fell more than 8%.
Following the defeat in the procedural vote, the Republican party leaders met in the mayor’s office suite, Mike Johnson, near the plenary, to evaluate the next steps. Deputy Warren Davidson (Ohio), longtime ally of the crypto and supporter of the legislation, was optimistic from the meeting, stating that the House leaders should soon reach an agreement with dissidents.
Two conservatives of the Republican Party, Anna Paulina Luna (Florida) and Eli Crane (Arizona), who voted against the procedure, declared on social networks that they wish to amend the legislation on stablecoins To include a prohibition on the emission of digital currency by the Federal Reserve.
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