Bitcoin prices fell during trading on Thursday, despite a notable shift among conservative Republicans in the U.S. House of Representatives, who moved from opposing to supporting cryptocurrency legislation. On Wednesday evening, the House approved rules for discussing regulatory frameworks for the sector.
However, a two-day deadlock in the House over crypto regulations has sparked doubts about whether there is enough support to pass the final versions of the proposed bills. The impasse also raised questions about President Donald Trump’s influence over GOP lawmakers, despite his vocal support for the industry, reports Al-Jarida daily.
Bitcoin dropped 0.84% to $118,367, according to Coinbase. Ethereum dipped 0.37% to $3,354, while Ripple rose 2.23% to $3.1313. Dogecoin declined 1.05% to $20.95.
Republican governors wrapped up two days of deliberations on the proposed crypto regulations, paving the way for House votes on legislation championed by Trump.
His pressure on party hardliners earlier this week — including the announcement of a so-called “Crypto Week” in Congress — appears to have softened opposition within the party.
The House is also preparing to vote on a key industry-supported bill that would define broader rules for the cryptocurrency market structure. This legislation still requires Senate approval.
Meanwhile, a stablecoin regulation bill — which already passed the Senate with bipartisan support — is set to head to Trump’s desk for signing if it also clears the House.
