Crypto Week Stalled by Freedom Caucus in Congress Showdown
July 16, 2025
759
11
1
1.58%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
Bloomberg Podcasts Episodes Around July 16, 2025
See what was published immediately before and after this episode.
6:14Now PlayingCrypto Week Stalled by Freedom Caucus in Congress Showdown
YouTube Description
as posted by the channelPatrick McHenry, former republican congressman from South Carolina and former Chair of the House Financial Services Committee, breaks down the relationship between the Freedom Caucus and President Trump as the two parties go back and forth on a slate of cryptocurrency bills.
ouse Republican leaders’ plan to pass three industry-backed crypto regulatory measures appeared to be back on course Tuesday night after President Donald Trump said he had convinced holdout conservatives to move forward with the legislation.
A faction of Republican hardliners had demanded changes to a Senate-passed stablecoin regulation bill and joined with Democrats to defeat a procedural step needed to begin consideration of the crypto bills. The loss disrupted a planned legislative press Trump had promoted as “Crypto Week.”
As talks with the dissidents dragged on, House leaders informed lawmakers no further votes were planned for the remainder of the day.
But Trump later announced on his Truth Social platform that “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.”
He added that House Speaker Mike Johnson took part in the meeting by phone.
“I’m thankful for President Trump getting involved tonight to ensure that we can pass the GENIUS Act tomorrow, and agreeing again to help us advance additional crypto legislation in the coming days.” Johnson said on X.
House Republican leaders struggled Wednesday to resolve an impasse with GOP hardliners on crypto legislation backed by President Donald Trump, holding open a key procedural vote as talks dragged on.
The dispute centered on the conservative holdouts’ demands to include a provision prohibiting the Federal Reserve from issuing digital assets in a broader crypto market structure bill.
Hardliners met with House Speaker Mike Johnson and key Republican supporters of the crypto legislation in a room just outside the House chamber Wednesday afternoon as party leaders kept open the procedural vote.
Combining the two bills would risk Democratic support, threatening passage in the Senate, said a pro-crypto Democrat who asked not to be identified.
The president claimed to have convinced the holdouts to move forward with legislation after meeting with a group of them late Tuesday night at the White House.
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Follow us on X
Subscribe to our Podcasts:
Bloomberg Daybreak
Bloomberg Surveillance
Bloomberg Intelligence
Balance of Power
Bloomberg Businessweek
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay
Android Auto
Visit our YouTube channels:
Bloomberg Podcasts
Bloomberg Television
Bloomberg Originals
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.