The future of three decisive encryption projects faced uncertainty late Wednesday as Republicans in the Conservative House of Representatives opposing the opposition to the legislation, which made the process stop.
According to CNBC information, a new opposition from a new faction of Republicans who resisted “the recent changes” that aim to recover earlier appeared, complicating the ongoing negotiations.
Republican party divisions at home
Until late Wednesday, more than half of the Republicans It is said Join Democrats in voting against allowing two laws of the regulations to progress in their current forms.
This predicament raised concerns about the ability of Republicans in the House of Representatives to reconcile their different views on the organization of encryption, although bills are generally enjoying widespread support.
Parliament Speaker Mike Johnson from Louisiana can lose only a few of the Republican votes to pass the measures through the party’s line, which makes the current stalemate in particular unstable.
The situation also indicates doubt about President Donald Trump’s influence on the party. After a meeting in the Oval Office on Tuesday evening with a group of conservative Republicans, Trump announced that they had reached an agreement to support the necessary rules to move forward.
However, Wednesday’s developments indicate a setback for the encryption industry, which was hoping Legislative progress During what was called “encryption week”.
Alternative strategies for encryption legislation
The opposition came on Wednesday not only from conservative militants, but also members of the main committees participating in drafting the legislation. Among the joints of the laws at stake is the law of the genius, which succeeded in approving the Senate in June, along with the law of clarity and another draft law that restricts the Federal Reserve from the establishment of a The digital currency of the Central Bank (CBDC).
As negotiations continue, reports indicate that the Republican leadership is considering alternative strategies, including adding the prohibition of the digital currency of the Central Bank to a draft law related to passing, a step informed by Punchbowl.
Market journalist Elianor frightens male On social media, Republicans in the Senate hope to get some progress from the House of Representatives to maintain momentum for encryption legislation, although they want to avoid another failed vote.
Some Republicans who initially opposed the bills but later transformed their position after their meeting with Trump, provided that the strong digital currency provisions are combined to combat the central in the law of clarity, because the genius law is not open to amendments.
However, the authors of clarity, along with many other members of the committee, have expressed fears that the combination of these two initiatives could be at risk Market structure legislation from the two parties They worked for months.
A Republican, actor Chip Roy, has expressed doubts about the previously made agreements, indicating that the consensus reached at the White House meeting may not be held.
In light of the advanced situation, the Republican party leaders are now pressing the integration of the CBDC control language into the National Defense Licensing Law (NDAA) as another possible way to progress in the legislation.
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The post Crypto Week In Jeopardy: Legislative Hurdles Threaten Progress On Regulation Bills first appeared on Investorempires.com.
