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

The U.S. House of Representatives is moving swiftly through its “Crypto Week”, setting the stage for critical mid-week votes on two major legislative proposals: the CLARITY Act and the GENIUS Act. These proposals aim to create a formal regulatory framework for stablecoins, an issue that has long awaited clarity in the U.S. financial system.

The crypto industry will take a step closer to going mainstream this week as a series of industry-friendly bills progress through Congress, paving the way for digital assets to potentially be further integrated into traditional finance.

Crypto is continuing its bull run at the start of what has been dubbed “Crypto Week” in Washington, where the House of Representatives will consider three bills with the potential to overhaul U.S. crypto policy.

At the start of the House's "Crypto Week," Bitcoin's price reached a record high. What to know about the GENIUS Act and other cryptocurrency bills.

After an earlier setback for the Trump administration when House Republicans failed to advance a key procedural vote on a package of legislation including three crypto measures, President Donald Trump said late Tuesday he has made a deal with Republican members of Congress to advance the legislation on Wednesday.