Trump’s crypto bill finally gets by House

It was quite the fight, but Trump finally managed to get his crypto bill through Congress.

The big fight for Trump was in the House, as a large contingent of his supporters in the House did not like the bill.

But, as we have seen in the past, when push came to shove, the majority of the resistance caved rather than suffer Trump’s wrath.

Stalling

When the bill was sent to the House, there was a large contingent of Freedom Caucus members who did not support the bill.

Among the top resisters to the bill was Rep. Marjorie Taylor Greene (R-GA), someone who had supported Trump in just about everything he asked.

There were enough Republicans against the bill to block it, considering there was not a single Democrat who seemed inclined to pass the bill.

Reps. Lauren Boebert (R-CO), Tim Burchett (R-TN), Michael Cloud (R-TX), Marjorie Taylor Greene (R-GA), Scott Perry (R-PA), Chip Roy (R-TX) and Keith Self (R-TX) were firm “No” votes very late in the game.

It Passed

Shockingly, the bill passed 308-122, as there were plenty of Democrats who supported the bill, which went directly against the reports I had read to that point.

A total of 12 Republicans held firm and voted against the bill, but it was clearly not enough to block it when the Democrats reversed course and fell in line.

Majority Whip Tom Emmer (R-MN) stated, “For far too long, America’s digital assets industry has been stifled by ambiguous rules, confusing enforcement and the Biden administration’s anti-crypto crusade.

“But President Trump and this Congress are correcting course and unleashing America’s digital asset potential with historic, transformative legislation.”

Trump Gets the Bipartisan Win

As I stated above, I never expected this bill to pass with the GOP resistance, but even though they held firm, Trump got a massive bipartisan win.

He stated, "I pledged that we would bring back American liberty and leadership and make the United States the crypto capital of the world. And that's what we've done under the Trump administration.”

Rep. French Hill (R-AR) added, "Our years of diligent work in Congress to bring clarity to payment stablecoins have reached a historic turning point. President Trump called on Congress to send him landmark legislation to his desk by August, and we have delivered.”

This is not my world, so I don’t want to comment too deeply in regard to the legislation until I have had time to digest it and run it by my people who are more educated in this market. But I will say, this was truly bipartisan, something I never thought I would see with Trump in office, and the hatred that Democrats have for the man. It was actually Democrats who caved this time, so it will be interesting to see how Democrat leadership responds.