The encryption bill game escalates: step-by-step or bundled raises controversy.

On June 25, according to reports, Republican lawmakers are engaged in fierce negotiations with industry insiders over the strategy for advancing key encryption legislation. The current issue is – “Should it be passed separately or bundled together?” The GENIUS Act, which was passed by the Senate last week, was submitted to the House of Representatives on Monday, but lawmakers are still debating whether to push it as a standalone bill or to bundle it with the House’s Market Structure Act before resubmitting it to the Senate for revision.

House Majority Whip Tom Emmer stated on Tuesday that the GENIUS Act is likely to pass in the House—“provided it moves forward in sync with the CLARITY Act (the House market structure legislation).” Majority Leader Steve Scalise emphasized that the combination of the two bills “aligns with industry demands.”

Currently, the “Bundling Faction” is represented by a certain trading platform and the venture capital giant a16z, believing that bundled legislation is the only feasible path to complete market structure reform this year. The “Step-by-Step Faction” is primarily made up of the DeFi community, advocating for a quick passage of the “GENIUS Act” to achieve a phased victory.