President Donald Trump said Tuesday he has secured the commitment of House Republicans to vote in favor of the GENIUS Act after procedural failures halted its progress earlier in the day.
What Happened: In a Truth Social post, Trump said that he had secured the support of 11 out of the 12 necessary Congress members to pass the GENIUS Act, also known as the stablecoin bill. The decision was reached during a meeting in the Oval Office, with Speaker of the House Mike Johnson (R-La.) participating via telephone.
“After a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” Trump said. “I want to thank the Congressmen/women for their quick and positive response.”
Republicans, including Rep. Marjorie Taylor Greene (R-Ga.), had opposed the Act earlier due to a lack of a clause prohibiting Central Bank Digital Currency and the Speaker’s refusal to consider amendments.
The GENIUS Act has received a lot of attention, especially since it passed the Senate last month.
Earlier, Trump wished everyone a “Happy Crypto Week" and urged all Republicans to support the GENIUS Act to make the U.S. the undisputed leader in digital assets. However, the procedural vote needed to advance key cryptocurrency bills failed, resulting in the suspension of further votes.
Photo courtesy: Maxim Elramsisy / Shutterstock.com
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