Trump -backed project projects failed to vote in Congress

numerous Coded Bill bills backed by the president Donald Trump On Tuesday, he failed to clarify a major procedural obstacle House of RepresentativesDealing with a major blow to the encryption industry.

The final vote was 196-223, with 13 Republicans voting with Democrats to prevent the procedural proposal. The procedure cannot move forward until the House of Representatives approves the base, which governs the discussion on legislation.

The vote, during what was described as the “encryption week”, was a rare example for Republicans in the House of Representatives refusing to take the direction from Trump. The measures were expected to pass widely.

The leadership of the House of Representatives is initially planning to conduct another vote later on Tuesday to try to strengthen the legislation.

It was not clear whether the second vote would be an identical rule and the same bills, or whether Republican leaders in the House of Representatives will change the package to satisfy the members of the Republican Party who opposed the proposal.

The shares associated with the encryption turned after the voting failure.

shares Stablecoin a company circle More than 7 % decreased on the news, while Coinbase More than 4 % decreased. Digital assets shares Mara Holdings More than 2 % decreased.

One of the three bills in the fold of forgetfulness after the failed vote is GeniusThe Senate approved last month with some democratic support. The genius law seeks to regulate Stablecoins.

Another law, the law of clarity, set rules on whether the original is organized as a guarantee before Securities and Stock Exchange Committee Or as a commodity supervised by The Justice Contracts Trading Committee.

The third proposal will prevent the federal reserve from creating a The digital currency of the Central Bank.

representative. Margori Taylor GreenR-ga. , One of the Republicans who opposed this measure, books In a post, “I just voted on the base of the genius law because it does not include a ban on the central bank’s digital currency and because the spokesman Johnson did not allow us to make amendments to the genius law.”

Green wrote: “President Trump included a ban on the Convention on Biological Diversity in his executive order on January 23, and Congress must also include the ban imposed on the Convention on Biological Diversity in the Genius Law.”

Trump had praised the “encryption week” during a position in social reality earlier on Tuesday and urged all Republicans in the House of Representatives to vote “yes” to this measure.

“The House of Representatives will soon vote on a huge bill to make America indisputable, the first commander in digital assets – no one does it better!” Trump wrote.

He wrote: “The genius law will put our great nation in China, Europe and all others who are trying endless to catch up with knees, but they cannot do that.”

“Digital assets are the future, and we are a lot! Get the first vote on this afternoon (all Republicans must vote yes!),” Trump continued.

Emily Wilkins from CNBC contributed to reporting