- Main crypto bills face intra-party opposition.
- Regulatory uncertainty impacts crypto markets.
- Legislation process issues delay U.S. crypto bills.
Delays in advancing U.S. crypto legislation create short-term regulatory uncertainty, potentially increasing market volatility for major cryptocurrencies.
House Speaker Mike Johnson and President Donald Trump are leading the push for U.S. crypto legislation with the CLARITY, GENIUS, and Anti CBDC Surveillance Acts. Republican hard-liners have blocked a procedural rule, stalling progress.
Approximately a dozen Republicans, along with Democrats, blocked the procedural vote to merge the bills into a comprehensive package. Chairman French Hill remains a prominent figure, steering market structure discussions in the House.
Failure to pass the GENIUS Act, which mandates U.S. stablecoins be fully backed, contributes to regulatory uncertainty. This could impact major stablecoins like USDC and USDT, and potentially influence BTC and ETH prices.
While immediate market reactions are evident, no concrete numbers on institutional allocations are available. Past procedural failures led to similar market shifts, affecting price stability in the U.S. crypto scene.
Stablecoin regulations, if passed, underscore the potential for changes in industry practices. The current legislative pause continues earlier trends, with regulatory opacity likely persisting. Historical data suggest market volatility increases amid legislative delays.
“They want to, want to push that and merge them together. We’re trying to work with the White House and with our Senate partners on this. I think everybody is insistent that we’re going to do all three, but some of these guys insist that it needs to be all in one package.”
— Mike Johnson, House Speaker, U.S. House of Representatives
