The US House on Tuesday passed a bill that would seek to exclude China from global financial institutions if it were to threaten Taiwan and pose a danger to American interests.
The legislation would establish US policy to block Chinese representatives from
six organizations, including the Group of 20, the Bank for International Settlements, Financial Stability Board and the Basel Committee on Banking Supervision.
The vote was overwhelming — 395 in favor to 2 against. But it’s not yet clear if the Senate will consider the bill and send it to President Donald Trump for his signature — the next two steps for the measure to become law.
Adding to the uncertainty, the Republican-controlled Senate is likely to be wary of making substantial changes to US-China policy before Trump’s visit to Beijing to meet with Chinese President Xi Jinping in April.
Trump has been trying to ease disagreements with China over trade, rare earths, Taiwan and other issues. The two men spoke earlier this month in advance of the April meeting. Trump cast that discussion as “excellent,” but the C
hinese government described the call in a more contentious light, particularly as it relates to Taiwan, a self-governing island, which China sees as its own territory.
“If China seeks to disrupt the global order, then China cannot continue to be party to international
organizations that seek to preserve that order,” Republican Representative Frank Lucas, the House bill’s sponsor, posted on X.
The legislation would also create US policy to block Chinese representatives from participating in the International Association of Insurance Supervisors and the International Organization of Securities Commissions.
Unlike the October drawdown, there’s been no obvious spark, cascading liquidations or systemic shock — just fading demand, thinning liquidity, a
nd a token that’s untethered to broader markets. Bitcoin has failed to respond to geopolitical s
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tress, dollar weakness, or risk rallies. Even during gold and silver’s violent swings in recent weeks, crypto saw no rotation.
Bitcoin fell nearly 11% in January, marking its fourth straight monthly decline — the longest losing streak since 2018, during the crash that followed the 2017 boom in initial coin offerings.
“I don’t think we’ll see a new all-time high for Bitcoin in 2026,” said Paul Howard, director at market maker Wincent.