House Republicans promoted this week as the latest step for the U.S. to become the “crypto capital of the world.”

House Republicans cleared a key procedural hurdle Wednesday night to unlock consideration of a trio of cryptocurrency bills, unfreezing the floor after a two-day saga. The chamber adopted a rule

The House this week took up a trio of bills that would establish a federal framework for regulating the cryptocurrency industry. One of the measures cleared Congress and is on its way to enactment.

ABC News’ Morgan Norwood is joined by House Committee on Financial Services member Rep. William Timmons (R- S.C.) to discuss the newly signed law that would govern cryptocurrencies.

The House floor was locked at a standstill Wednesday afternoon as a diverse array of House Republicans sparred over a trio of cryptocurrency bills and Speaker Mike Johnson (R-La.) searched for consensus to unfreeze the floor.

A political standoff has delayed a House vote on cryptocurrency legislation as Republicans struggle with timing constraints and internal disagreements over the GENIUS and Clarity acts.