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Title: Trump Secures Republican Support for Crypto Bills After Initial Setback
In a stunning turn of events, former President Donald Trump has successfully convinced 11 out of the 12 Republican lawmakers who initially opposed crypto bills to change their stance and support the proposed legislation. This development comes after an initial setback as 13 Republicans voted against moving forward with the legislation due to concerns over central bank digital currencies (CBDCs).
Trump met with the dissenting representatives in the Oval Office, reportedly convincing them to vote in favor of the GENIUS Act, Anti-CBDC Surveillance Act, and CLARITY Act. The House is expected to vote again on Wednesday after a failed procedural vote on Tuesday.
The main point of contention was the inclusion of CBDCs in the proposed bills. Some Republican lawmakers had demanded explicit language banning central bank digital currencies (CBDCs), which has sparked debate within the party. Trump’s involvement has alleviated these concerns, paving the way for the crypto legislation to move forward.
Democrats have launched an “anti-crypto corruption week” in opposition to the proposed bills, citing concerns over consumer protection and potential conflicts of interest. The House Majority Leader, Steve Scalise, expressed gratitude towards Trump for his efforts to advance additional crypto legislation in the near future.
The development marks a significant shift in the ongoing debate around cryptocurrency regulations, which has seen a stark divide between the two major political parties.
Source: coincentral.com
