A failed procedural vote in the House of Representatives earlier on Tuesday sent shares of crypto firms lower. But the Republican president said in a statement late on Tuesday that he was meeting in the Oval Office with 11 of 12 members of Congress needed to pass the legislation.
House Republicans had billed this week as “Crypto Week,“ and were keen to advance numerous pieces of legislation aimed at providing clarity to the digital asset industry and long-sought legitimacy to the sector.
Shortly after that vote, House Speaker Mike Johnson told reporters that he planned to continue discussing the matter with members and hoped to vote on it again shortly.
The House is attempting to pass a series of crypto-related bills, most notably a bill that would establish a regulatory framework for stablecoins.
That bill - and another the House is considering that would define when a crypto token is a commodity - would be a huge win for the crypto industry.
That bill has not been considered in the Senate and the Federal Reserve has not indicated a desire to develop a central bank digital currency. - Reuters
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