Halfway through what House Republicans billed as “crypto week,” they still don’t have a plan on how to pass any cryptocurrency legislation, and President Donald Trump’s August deadline for Congress to get something on his desk is only ticking closer.
That’s their situation after days of negotiations, a meeting with Trump in the Oval Office and a series of procedural votes that have lasted hours. They’re even on a holding pattern on advancing the GENIUS Act, the Senate’s landmark cryptocurrency legislation, which was expected to be a legislative slam dunk.
“We’re working it out,” Speaker Mike Johnson told reporters as he walked out of an hours-long meeting with Republicans holdouts Wednesday afternoon.