Crypto bills move forward after unprecedented deadlock in GOP-controlled House

Progress came after several Republican holdouts reversed their positions, having received assurances from GOP House leaders that a proposal to prohibit the Federal Reserve from creating a central bank digital currency (CBDC) would be added to the critical National Defense Authorization Act.

The House was deadlocked for hours as nine Republicans voted against the measure and two others withheld their votes, resulting in the longest House vote in recent history—surpassing the previous record set just weeks earlier during the rule vote for the Trump mega bill.

Throughout the extended delay, House Speaker Mike Johnson met privately with the holdouts, and ultimately, only one Republican—Rep. Marjorie Taylor Greene of Georgia—voted against moving the rule forward.

New resistance arose throughout the day from moderate Republicans who pushed back against last-minute revisions made to win over hardline conservatives whose earlier ‘no’ votes had derailed the legislation on Tuesday.

By late Wednesday night, several previous opponents reversed their stance, allowing the House to pass the debate rules for the crypto bills and the related Pentagon funding measure.

Johnson emphasized that the deal "breaks the logjam, allows us to get our work done. In addition, sometimes it takes longer than at other times, but it is all part of the process.

In summary, Members of the Financial Services and Agriculture Committees changed course and voted in favor of the procedural measure after meeting privately with GOP leaders and House conservatives, despite initially holding back their support. However, several other conservative members subsequently voted against it. To advance the effort, GOP leaders must sway those holdouts. One possible solution could be a promise to include the CBDC ban — a longstanding conservative goal — in upcoming must-pass legislation, like a defense authorization bill or the re authorization of foreign surveillance powers.

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Marwa O

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