President Donald Trump announced Tuesday evening that he reached a deal with Republican lawmakers to move a cryptocurrency bill forward in the House. Earlier that day, a dozen Republicans, among them House Freedom Caucus members and Rep.

Florida lawmakers helped by the cryptocurrency industry are joining a House majority backing the first crypto regulatory bill adopted by Congress.

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.