Bitcoin and other major cryptocurrencies traded higher Wednesday after President Donald Trump said he expects the House to pass the GENIUS Act.

Thirteen Republicans voted against a motion to advance three pro-crypto bills, 12 of whom Trump said would now vote differently.

The main reason behind the pulled support was concerns regarding the lack of a “hard ban” on central bank digital currencies (CBDCs). “The GENIUS Act does not follow President Trump’s executive order because it does not ban a CBDC,” said Republican Marjorie Taylor Green in an X post.

A day after President Donald Trump claimed a deal was reached with GOP holdouts, the House was yet again locked in a standstill over moving forward on a trio of crypto bills -- breaking a record for the longest House vote in recent history.

Trump announces 11 of 12 congressmen agreed to advance GENIUS Act stablecoin legislation after Oval Office meeting, reversing Tuesday's failed procedural vote during Crypto Week.

As the Crypto Week gets underway, Donald Trump is urging all Republicans in the House to vote in favor of the GENIUS Act.

Trump’s support for the GENIUS Act and other “Crypto Week” bills sparks BTC and crypto‑stock rally. Could this spur Bitcoin's potential move to $150K?

The GENIUS Act is good news for Ethereum because it is likely to ban competing yield-bearing stablecoins that often offer higher and simpler returns.