The market structure package called the CLARITY Act could be held up as Democrats have concerns about President Trump's growing crypto empire.

A trio of cryptocurrency bills that had been expected to pass the House this week stalled on Tuesday after a bloc of Republicans unexpectedly joined with Democrats to prevent the legislation from coming up for debate and votes.

U.S. President Donald Trump on Tuesday stepped in to broker an agreement among Republican lawmakers after a snag cast doubt on the fate of long-awaited cryptocurrency legislation that would mark a major victory for the digital assets sector.

Bitcoin price and other cryptocurrencies were recovering early Wednesday following a set back to key crypto legislation Tuesday. Prices had plunged to a 24-hour low of just under $115,967 shortly after procedural vote on three crypto bills in the House of Representatives was voted down Tuesday afternoon.

On Monday, Republican leaders in the House of Representatives kicked off what they’re calling “Crypto Week”—a concerted effort to make America the cryptocurrency capital of the world by advancing three key pieces of crypto-related legislation.

If you bet “Donald Trump ends an investigation into a Peter Thiel-backed cryptocurrency platform,” you can claim your winnings. According to Bloomberg, two investigations into the prediction market Polymarket have been shut down by the Trump administration, just in time for Republican lawmakers’ planned “Crypto Week.”

The House of Representatives called off Tuesday’s votes on pivotal cryptocurrency bills, citing a procedural failure.

A dozen House Republicans bucked Trump and Speaker Mike Johnson to prevent the legislation from advancing on the floor -- joining the entire Democratic caucus -- and, at least temporarily, freezing activity in the House. The final tally was 196-223.

Republicans who voted against the cryptocurrency regulation legislation objected to how the bills were structured.

What Happened: Taking to social media platform Truth Social, Trump said, “Happy Crypto Week! The House will soon VOTE on a tremendous Bill to Make America the UNDISPUTED, NUMBER ONE LEADER in Digital Assets – Nobody does it better!"