TechFlow, July 17 — According to reporter Eleanor Terrett, the U.S. House of Representatives narrowly passed a procedural rules vote by 217-212, paving the way for key legislation on cryptocurrency and defense spending. The vote lasted nearly 10 hours, setting a record as the longest in the history of the U.S. House.
Several Republican lawmakers flipped their positions multiple times within 24 hours—shifting from opposition to support, then back to opposition, and ultimately returning to support. Following the passage of the procedural vote, House leadership pledged to include anti-CBDC (central bank digital currency) provisions in the National Defense Authorization Act (NDAA).
The GENIUS Act and potentially the CLARITY Act are expected to be submitted for final congressional votes as early as tomorrow. The GENIUS Act is seen as a significant step toward modernizing financial regulation, including strict reserve requirements for stablecoin issuers and provisions restricting CBDC development.
