{"id":11071,"date":"2025-07-08T12:05:22","date_gmt":"2025-07-08T12:05:22","guid":{"rendered":"https:\/\/bluelightnews.com\/category\/politics\/capitol-agenda-its-crypto-crunch-time-for-the-house\/"},"modified":"2025-07-08T12:05:22","modified_gmt":"2025-07-08T12:05:22","slug":"capitol-agenda-its-crypto-crunch-time-for-the-house","status":"publish","type":"post","link":"https:\/\/bluelightnews.com\/category\/politics\/capitol-agenda-its-crypto-crunch-time-for-the-house\/","title":{"rendered":"Capitol agenda: It\u2019s crypto crunch time for the House"},"content":{"rendered":"
\n

Senate Republicans and President Donald Trump are pushing to jam the House again. This time, it\u2019s all about crypto.<\/p>\n

The brewing clash \u2014 not unlike the megabill saga \u2014 is over how big and how quickly Hill Republicans should deliver on one of Trump\u2019s most notable campaign pledges. In this case, it\u2019s about Trump\u2019s promise to make the U.S. \u201cthe crypto capital of the world.\u201d<\/p>\n

The Senate last month passed a bipartisan bill to boost a specific slice of the crypto universe \u2014 so-called stablecoins \u2014 but the House GOP is now wrestling with a desire to go bigger. It\u2019s gearing up for a full-blown \u201ccrypto week\u201d to make the case when House members return next Monday.<\/p>\n

House Republicans, who spent years incubating crypto legislation that Senate Democrats were unwilling to touch, plan to vote on the Senate stablecoin bill and a wider-ranging \u201cmarket structure\u201d plan to overhaul securities and commodities rules impacting crypto trading.<\/p>\n

The big hurdle for House Republicans is that Trump and Senate Republicans aren\u2019t on board with tweaking the stablecoin bill or using it as a vehicle to take a bigger swing on crypto policy. Trump says he wants a \u201cclean\u201d version of the bill \u201clightning fast\u201d and key GOP senators say<\/a> they won\u2019t take up a market structure overhaul until September.<\/p>\n

Senate Republicans say it would be near-impossible to muster Democrats to pass a revised stablecoin bill.<\/p>\n

\u201cFor me to get eight or nine Democrats to vote for something here is extraordinarily difficult to do,\u201d said Sen. Bill Hagerty (R-Tenn.), the lead sponsor of the Senate stablecoin bill, known as the GENIUS Act.<\/p>\n

House GOP leaders signaled last week<\/a> they won\u2019t seek to combine that legislation with their broader revamp, but they haven\u2019t yet said whether they will make changes to the measure.<\/p>\n

House Financial Services Chair French Hill\u2019s sweeping market structure bill, which is the crown jewel of the House GOP\u2019s crypto push, is also the subject of eleventh-hour negotiating among House lawmakers ahead of next week\u2019s floor vote.<\/p>\n

The Arkansas Republican is working to secure wide bipartisan backing that would signal its political viability to the Senate. But some Democrats who have been on board in the past are withholding support unless the bill imposes restrictions on the Trump family\u2019s entanglements in the crypto industry.<\/p>\n

\u201cFor me, and I suspect for some other Democrats, if we can satisfy this question of conflict of interest \u2014 meaning there\u2019s a prohibition on the president being an issuer \u2014 a lot of us can get to \u2018yes,\u2019\u201d said Rep. Jim Himes, a senior Connecticut Democrat on House Financial Services. \u201cThey\u2019re working in good faith to try to get us to \u2018yes.\u2019\u201d<\/p>\n

What else we\u2019re watching:<\/i><\/b><\/p>\n

\u2014 Netanyahu on Blue Light News: <\/b>Israeli Prime Minister Benjamin Netanyahu will be on Capitol Hill Tuesday and meet with Speaker Mike Johnson at 11:45 a.m. Netanyahu will then have a bipartisan Senate meeting with leaders John Thune and Chuck Schumer at 4 p.m., per two people granted anonymity to discuss the plans. House Minority Leader Hakeem Jeffries didn\u2019t comment when we asked whether he plans to meet with Netanyahu.<\/p>\n

\u2014 NDAA markups begin: <\/b>Senate Armed Services will begin subcommittee markups of the National Defense Authorization Act at 4:30 p.m. The full panel will debate and vote on the whole package starting Wednesday at 9:45 a.m. (reminder: this could take several days).<\/p>\n

\u2014 Rescissions updates: <\/b>Appropriations Chair Susan Collins (R-Maine) is gearing up to offer amendments to Trump\u2019s request to claw back $9.4 billion in already-approved funds ahead of the Senate\u2019s July 18 deadline, and the contours of her desired tweaks are starting to take shape. Collins has already said she is strongly against the White House\u2019s proposed cuts to foreign aid, and told Maine Public Radio<\/a> that she would like to prevent drastic funding reductions to public media, too.<\/p>\n

Jordain Carney contributed to this report.<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Senate Republicans and President Donald Trump are pushing to jam the House again. This time, it\u2019s all about crypto. The brewing clash \u2014 not unlike the megabill saga \u2014 is over how big and how quickly Hill Republicans should deliver on one of Trump\u2019s most notable campaign pledges. In this case, it\u2019s about Trump\u2019s promise […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-11071","post","type-post","status-publish","format-standard","hentry","category-congress"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/posts\/11071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/comments?post=11071"}],"version-history":[{"count":0,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/posts\/11071\/revisions"}],"wp:attachment":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/media?parent=11071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/categories?post=11071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/tags?post=11071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}