Today, in crypto, the US Securities and Exchange Commission (SEC) delayed its decision to allow in-kind redemptions for Bitwise’s Bitcoin and Ether spot ETFs. US lawmakers have advanced three crypto bills after a nine-hour session, the longest vote in the US House’s history. Meanwhile, the US House of Representatives allowed three Republican-led crypto bills to be considered in the chamber after a previously failed vote.
SEC delays in-kind redemption decision for Bitwise crypto ETFs
The US Securities and Exchange Commission (SEC) extended its deadline to decide on whether to allow in-kind redemptions for Bitwise’s Bitcoin and Ether spot ETFs on NYSE Arca.
While the SEC did not exceed its maximum 90-day review limit, it stated that more time is needed to fully consider the implications of the proposed rule change. If approved, in-kind redemptions would let investors receive Bitcoin or Ether directly instead of cash, potentially offering tax benefits.
SEC’s deadline extension filing. Source: SEC
The move comes amid growing criticism that the SEC is delaying key crypto decisions. Grayscale recently challenged the agency’s handling of its Digital Large Cap ETF, accusing it of violating statutory deadlines. However, the SEC appears to be shifting its stance under Chair Paul Atkins, appointed under the Trump administration, who has pledged a more transparent and innovation-friendly approach.
Crypto bills move forward after nine-hour stalemate on House floor
House Republican leaders have cut a deal to move forward with three crypto bills that were stuck in a record-long procedural vote after Republican hardliners refused to back down on central bank digital currencies.
A vote to set up floor debate on the bills was open for over nine hours — the longest in the House’s history. The measure eventually passed late on Wednesday with a vote of 217-212 in favor.
The crypto bill is hanging in limbo. pic.twitter.com/DW4HCrqVDm
— Tim Burchett (@timburchett) July 16, 2025
A group of Republican holdouts initially refused to support the vote unless a ban on central bank digital currencies (CBDCs) was guaranteed to pass, but House Majority Leader Steve Scalise told reporters on Wednesday that Republicans will now instead add a CBDC ban to a must-pass defense spending bill, the National Defense Authorization Act (NDAA).
Three US crypto bills revived after initial failure in House vote
The US House of Representatives has cleared the way for three Republican-led crypto bills to be considered in the chamber after a failed vote on Tuesday.
In a Wednesday floor vote in the House, lawmakers voted 215-211 in favor of a resolution to reconsider a package with bills to regulate payment stablecoins, establish crypto market structure and restrict the development of a US central bank digital currency (CBDC).
The passage could lead to amendments to the bills and votes on the legislation itself soon as part of Republicans’ plans to pass them before Congress breaks for an August recess.
Though the motion to reconsider passed, the House had yet to agree to the resolution. Reports suggested lawmakers were debating how to move forward. At the time of publication, the vote remained open.
Despite political pressure from US President Donald Trump, five Republicans did not vote in favor of reconsidering the resolution. Thirteen House Republicans caused the vote to fail on Tuesday, several of whom expressed concerns about the lack of CBDC provisions in the stablecoin bill, the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act.
