Burchett and Trump agree on private crypto transactions

US Representative Tim Burchett says they agreed with President Trump to maintain the anonymity of crypto transactions, similar to how cash works.

In a Thursday X post, the Tennessee representative commented, “Late night agreement with ⁦Donald Trump⁩ and leadership to keep your crypto transactions private like cash.”

Crypto bills stalled in the House after some Republicans moved to support Democrats

Lately, the Trump administration and Republican representatives have been focused on setting friendly regulations for the industry.

This week, the so-called “crypto week,” the House was slated to advance three bills endorsed by President Trump, who argued they would propel the US to be the global crypto capital. However, Tuesday’s legislative push hit a snag as some Republicans joined Democrats to stop the procedural vote.

Though Trump weighed in during a late evening meeting with GOP members at the White House, seemingly reviving the bills. He posted on Truth Social that he expected the bills to come up for a vote by Wednesday.

Late night agreement with ⁦@realDonaldTrump⁩ and leadership to keep your crypto transactions private like cash. pic.twitter.com/ILXouDofWO

— Tim Burchett (@timburchett) July 17, 2025

Still, Republicans were grappling with internal divisions in their Wednesday discussions. Conservative republicans held out, demanding that the crypto market structure bill explicitly ban the Federal Reserve from creating a digital dollar. 

Burchett, one of the GOP hardliners, said they were under the impression an agreement had been made to satisfy their demands, but it soon fell through. He noted that some wanted the agreement in writing, and others didn’t agree with the deal. He added, “So you’ve got people that are just upset.” 

GOP hardliners were pushing to merge the crypto market structure bill, the CLARITY Act, with the other bill to ban a central digital currency. However, a pro-crypto Democrat warned that combining the two bills might cost crucial Democratic support and risk their passage in the Senate.

Nevertheless, House Republicans advanced the three crypto bills and the 2026 defense spending plan despite tense negotiations. Republican leaders agreed to include a CBDC ban in the must-pass defense authorization bill, securing support from GOP hardliners. President Trump seemed pleased with the agreement they made. Speaker Mike Johnson also expressed his relief that the stalemate was finally over.

The House has now cleared a procedural hurdle that opens the door to passing crypto legislation. Johnson expects to take up the Senate’s stablecoin legislation, the GENIUS Act, on Thursday, while action on the CLARITY bill may be delayed.

The GENIUS Act, if approved, will move on to Trump’s desk and become the first major crypto bill ever passed by Congress.

The crypto community shows mixed reactions to Burchett’s post

Nonetheless, the administration seems open to discussing more digital assets. Burchett claimed they agreed with Trump to keep crypto transactions private. Some X users supported the move, while others did not appreciate it that much. One X user argued that keeping the transactions would encourage money laundering. 

Another user even asked if they could get their taxes back. A user named Charles Keller even suggested that digital assets eventually can lead to the dollar’s fall, saying they already see signs of possible instability. Meanwhile, one stated that it would be impossible to let crypto stay private.

Several commentators, however, thanked the Tennessee Representative, asking him to continue with the good work. Others expressed happiness that the White House is working closely with the Representatives.

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