WASHINGTON, July 15 (Reuters) - The fate of long-awaited

cryptocurrency legislation in the U.S. Congress was cast into

doubt Tuesday, as a procedural vote to consider the measures was

shot down by lawmakers from both parties, and shares of some

companies in the sector fell.

House Republicans had billed this week as "Crypto week," and

were keen to advance numerous pieces of legislation aimed at

providing clarity to the digital asset industry and long-sought

legitimacy to the sector.

But those efforts hit an early snag on Tuesday, when several

conservative Republicans joined with Democrats in blocking a

procedural vote to allow consideration of three crypto bills as

part of a dispute over how the measures should be packaged and

considered.

Shortly after the vote, House Speaker Mike Johnson told

reporters that he planned to continue discussing the matter with

members and hoped to vote on it again shortly.

Shares of crypto-related stocks including Circle

Internet ( CRCL ) and Coinbase Global ( COIN ) dropped on the

news but then pared losses. Circle Internet ( CRCL ) fell over 4% while

Coinbase was down 1.5%.

The House was attempting to pass a series of crypto-related

bills, most notably a bill that would establish a regulatory

framework for stablecoins.

Stablecoins, a type of cryptocurrency designed to maintain a

constant value, usually a 1:1 dollar peg, are commonly used by

crypto traders to move funds between tokens. Their use has grown

rapidly in recent years, and proponents say they could be used

to send payments instantly.

That bill -- and another the House is considering that would

define when a crypto token is a commodity -- would be a huge win

for the crypto industry.

The House also was set to consider a bill that would

prohibit the U.S. from issuing a central bank digital currency.

Republicans say there is a risk this could give the government

too much control over Americans' personal finances.

That bill has not been considered in the Senate and the

Federal Reserve has not indicated a desire to develop a central

bank digital currency.