President Donald Trump is signing the GENIUS Act, which will regulate stablecoin cryptocurrencies, whose values are pegged to the U.S. dollar, at around 2:30 p.m. Friday. TRUMP STRIKES DEAL WITH GOP HOLDOUTS ON GENIUS ACT DURING 'CRYPTO WEEK' Trump needed to convince about a dozen Republicans to vote for the bill after they stalled it due to certain provisions not included in the bill,

The House of Representatives passed the GENIUS Act, making it the first major piece of federal legislation to regulate stablecoins.

Bitcoin price, XRP and other cryptos have seen big gains this week. The crypto industry notched its first major crypto regulatory win in the U.S. late Thursday.

U.S. Congress established the first cohesive legal framework for digital assets on July 17, 2025. The GENIUS Act defined digital assets and recognized decentralization as

Two of the legislations — the GENIUS Act and the CLARITY Act — were passed with significant bipartisan support.

The U.S. is making real progress on crypto legislation. The House voted on three bills this week -- covering stablecoins, digital asset oversight and a central bank digital currency ("CBDC") ban -- with one already headed to U.

A legislative win in Congress, and the promise of more to come, has helped lift the prospects and the wealth of the cryptocurrency industry.

Blockchain data from Glassnode showed that on-chain value transferred using USDT dropped 20% in the last 24 hours, while USDC’s jumped by nearly 40%.