House Republicans Block Epstein Files Amendment to Landmark Crypto Bill
As “Crypto Week” begins in Washington, House Republicans have voted to block a controversial amendment to one of the most important crypto bills under consideration—one that would have compelled the Department of Justice (DOJ) to release the highly scrutinized Epstein files.
Democrats Propose Epstein Amendment to GENIUS Act
On Monday, the House Rules Committee rejected an amendment to the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, introduced by Representative Ro Khanna. The amendment sought to mandate that Attorney General Pam Bondi release and publish records related to investigations, prosecutions, or the incarceration of Jeffrey Epstein within 30 days of the bill becoming law.
This effort came amid renewed Democratic pressure following criticism of how the Trump administration’s DOJ handled the Epstein case, including its conclusion that Epstein’s death was a suicide and that no client list existed.
Democrats viewed the amendment as a way to leverage internal GOP tensions and force a vote that could place Republicans in a politically vulnerable position. Representative Marc Veasey also announced a resolution pushing for the full release of all Epstein-related DOJ files.
Rules Committee Prioritizes Crypto, Not Epstein Files
On July 14, the House Rules Committee voted 6-5 against including Khanna’s amendment. Republicans argued that the proposal was not relevant to the GENIUS Act, which is focused on stablecoin regulation, not criminal investigations.
The GENIUS Act—originally introduced by Senator Bill Hagerty—seeks to create a clear regulatory framework for stablecoins like USDT and USDC, placing them under Federal Reserve oversight. Supporters say it will “unleash innovation” and support President Trump’s vision of making the U.S. a global crypto leader.
Interestingly, Republican Representative Ralph Norman broke ranks to vote with Democrats in favor of the amendment, stating that “the public’s been asking for it.” However, Norman later opposed Representative Veasey’s separate resolution on procedural grounds, saying, “We’re talking about crypto, Jim. We’re talking about regulations.”
GENIUS and CLARITY Acts May Merge Ahead of August Deadline
The GENIUS Act already passed a full Senate vote in mid-June and is currently moving through the House of Representatives. Lawmakers have since discussed combining the bill with the CLARITY Act, another cornerstone crypto regulation proposal, to improve their chances of passing before the August recess.
However, Senate Banking Committee Chair Tim Scott has since signaled a new timeline, suggesting that GENIUS and CLARITY could advance independently to avoid procedural delays.
While the Epstein-related efforts were blocked, the broader legislative push around crypto regulation remains on track, with lawmakers aiming to finalize a framework that could reshape U.S. digital asset policy.
@ Newshounds News™
Source: Bitcoinist
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Trump Cuts Deal to End Republican Revolt on Crypto Bills
President Donald Trump has intervened to restore Republican support for a suite of major cryptocurrency bills after a GOP revolt temporarily derailed progress over concerns about central bank digital currencies (CBDCs).
On Tuesday evening, Trump announced on his Truth Social platform that he had met with 11 of the 12 Republican holdouts in the Oval Office and secured their commitment to vote in favor of the bills when the House reconvenes.
“I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” Trump wrote.
Crypto Bills Delayed Over CBDC Concerns
The Republican standoff halted Tuesday’s expected vote on three key crypto bills:
- The GENIUS Act, which sets rules for stablecoin issuance
- The Anti-CBDC Surveillance Act, which bans a Federal Reserve–issued CBDC
- The CLARITY Act, a broader crypto market structure framework
Thirteen Republican lawmakers, including high-profile names like Marjorie Taylor Greene, Andy Biggs, and Anna Paulina Luna, opposed moving forward without an explicit ban on CBDCs included in the GENIUS Act.
Some wanted the three bills to be bundled into a single legislative package, while others sought amendments to further guarantee self-custody rights and block any indirect pathways to a government-backed digital currency.
“I just voted NO on the Rule for the GENIUS Act because it does not include a ban on central bank digital currency,” said Rep. Greene.
“The bill doesn’t guarantee self-custody,” added Rep. Biggs, calling for an open amendment process.
Trump’s Executive Order Already Opposes CBDCs
Trump’s re-engagement with crypto comes after he issued an executive order in January barring the Federal Reserve from developing a retail CBDC, a move that aligned him with the industry’s call for decentralized digital finance.
House Speaker Mike Johnson credited Trump’s influence for restoring momentum:
“I’m thankful for President Trump getting involved tonight to ensure that we can pass the GENIUS Act tomorrow,” Johnson posted on X.
Still, the bill’s language already prohibits the Fed from offering public-facing digital accounts, according to Eleanor Terrett, host of the Crypto in America podcast.
“The bill shall not be construed as expanding the Fed’s authority to offer services directly to the public—meaning it cannot authorize digital wallets, personal accounts, or anything CBDC-related,” she explained.
Procedural Challenges and Strategy Shifts
Tensions also arose over how the bills should be passed. Some Republicans wanted them voted on as a single package, while Speaker Johnson argued they should advance in succession to avoid procedural issues in the Senate.
“It’s a priority of the White House, the Senate, and the House to do all of these crypto bills,” Johnson told Politico, but added, “We have to do them in succession.”
Despite the delay, industry insiders remain optimistic. Caitlin Long, CEO of Custodia Bank, urged calm, pointing out that the GENIUS Act initially failed in the Senate before passing 11 days later.
House Reconvenes Wednesday
The House is scheduled to meet again on Wednesday to resume debate and move the crypto bills forward. If successful, it could mark a turning point in the legislative effort to establish clear U.S. digital asset regulation before the August recess.
The GENIUS Act passed the Senate in June with bipartisan support, but Democratic opposition to Trump’s rising alignment with the crypto industry remains a factor heading into final negotiations.
@ Newshounds News™
Source: Cointelegraph
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