Procedural vote on cryptocurrency bill in U.S. House reaches deadlock

PANews reported on July 17 that according to The Block, the procedural votes of the U.S. House of Representatives, which were originally scheduled to advance three important cryptocurrency legislations during "Crypto Week", are currently deadlocked. The deadlock is mainly due to the disagreement among some Republican lawmakers on the relevant provisions of the central bank digital currency (CBDC). Several bills, including the GENIUS Stablecoin Regulatory Act, were originally scheduled to be voted on this week, but due to the controversial CBDC wording, the relevant procedural votes were shelved. According to reports, some lawmakers insisted on adding content opposing CBDC to the bill, which hindered the voting progress, and the subsequent direction remains unclear.