**Congress Halts Defense and Digital Currency Bills**

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29 days ago - Politics

Congress Blocks Key Bills on Defense and Digital Currency Regulation

In a recent vote, the House of Representatives decided not to move forward with discussing a set of important bills that could significantly impact many aspects of life in America, including military funding and the rules around digital money. This vote was led by House Democrats, who opposed the decision to consider the bills.

The resolution aimed to discuss four major bills:

  1. Funding for the Military: One bill was meant to allocate money for the Department of Defense for the fiscal year ending on September 30, 2026. This funding is essential to support military operations and ensure the safety and security of the nation.

  2. Regulation of Digital Assets: Another bill proposed setting regulations for digital commodities, which are items bought and sold through digital platforms, like cryptocurrencies. This bill would have given two government agencies—one responsible for overseeing stock markets and another for monitoring future trading—more power to protect people when they invest in digital assets.

  3. Changes to the Federal Reserve's Operations: A different bill aimed to limit the capabilities of the Federal Reserve, the nation's central bank. It proposed that the Federal Reserve would no longer be able to offer some services, such as loans, to individuals. It also sought to prevent the Federal Reserve from creating a new type of digital currency to control the economy.

  4. Rules for Payment Stablecoins: The last bill was focused on creating guidelines for "payment stablecoins," which are digital coins meant to maintain a steady value. This regulation would help ensure the safe use of these coins in financial transactions.

However, when it came time to vote, the House failed to pass the resolution, meaning these bills will not be discussed further. With the rejection of this resolution, significant changes in military funding and regulations surrounding digital currency will not take place for now. This decision highlights ongoing debates in Congress about how to handle military expenses and the fast-evolving world of digital money.

This is a resolution about several important bills in Congress related to money and regulations.

  1. Defense Funding: The first bill will allocate money to the Department of Defense for the year ending September 30, 2026. This means the government will spend money to keep the military strong and ready.

  2. Digital Commodities Regulation: The second bill will create rules for buying and selling digital goods online, like cryptocurrencies. This is to make sure people can trade safely and legally.

  3. Federal Reserve Changes: The third bill aims to stop the Federal Reserve from giving certain services directly to people and prevents the Federal Reserve from using digital money to control economic policy. This means people won't get loans or services directly from the Federal Reserve.

  4. Payment Stablecoins Regulation: The last bill will set rules for stablecoins, which are a type of digital money tied to the value of regular money. This will help protect people who use these types of payments.

This resolution also allows these bills to be discussed in the House of Representatives without many formalities that usually slow things down. This makes the process faster and more efficient, helping to ensure that these important matters are addressed sooner rather than later.

419 votes

Yes

196

No

223

Not Voting

13

  1. On agreeing to the resolution Agreed to by recorded vote: 217 - 212 (Roll no. 198).
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  2. Passed/agreed to in House: On agreeing to the resolution Agreed to by recorded vote: 217 - 212 (Roll no. 198).
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  3. On motion to reconsider Agreed to by the Yeas and Nays: 215 - 211 (Roll no. 197).
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  4. Considered as unfinished business.
  5. POSTPONED PROCEEDINGS - The Chair put the question on the motion to reconsider and by voice vote, announced that the ayes had prevailed. Mr. McGovern demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
  6. Mr. Scalise moved to reconsider the vote.
  7. Failed of passage/not agreed to in House On agreeing to the resolution Failed by recorded vote: 196 - 223 (Roll no. 195).
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  8. On agreeing to the resolution Failed by recorded vote: 196 - 223 (Roll no. 195).
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  9. Considered as unfinished business.
  10. POSTPONED PROCEEDINGS - The Chair put the question on agreeing to the resolution and by voice vote, announced that the ayes had prevailed. Ms. Scanlon demanded a recorded vote and the Chair postponed further proceedings until a time to be announced.
  11. On ordering the previous question Agreed to by the Yeas and Nays: 211 - 210 (Roll no. 194).
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  12. DEBATE - The House proceeded with one hour of debate on H. Res. 580.
  13. Considered as privileged matter.
  14. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
  15. Reported in House

    This is a resolution about several important bills in Congress related to money and regulations.

    1. Defense Funding: The first bill will allocate money to the Department of Defense for the year ending September 30, 2026. This means the government will spend money to keep the military strong and ready.

    2. Digital Commodities Regulation: The second bill will create rules for buying and selling digital goods online, like cryptocurrencies. This is to make sure people can trade safely and legally.

    3. Federal Reserve Changes: The third bill aims to stop the Federal Reserve from giving certain services directly to people and prevents the Federal Reserve from using digital money to control economic policy. This means people won't get loans or services directly from the Federal Reserve.

    4. Payment Stablecoins Regulation: The last bill will set rules for stablecoins, which are a type of digital money tied to the value of regular money. This will help protect people who use these types of payments.

    This resolution also allows these bills to be discussed in the House of Representatives without many formalities that usually slow things down. This makes the process faster and more efficient, helping to ensure that these important matters are addressed sooner rather than later.

  16. Placed on the House Calendar, Calendar No. 37.
  17. The House Committee on Rules reported an original measure, H. Rept. 119-199, by Mr. Jack.