In a week in which Bitcoin hit a new high and the crypto market saw huge gains, the U.S. Congress has officially passed the GENIUS Act, its first national

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.

Trump and GOP lawmakers said that they had the votes necessary to pass landmark crypto legislation in the House.

It was a remarkable win for the crypto industry — and for President Trump, who campaigned on making the country "the crypto capital of the planet."

The US crypto industry is celebrating as Congress passed three major bills in its “Crypto Week” legislative bonanza.

Stocks tied to crypto trading gained as well. Coinbase rose 4%, hitting an all-time intraday high surpassing its initial pop on its IPO date in 2021, and pacing for its fifth positive week in a row. Robinhood also added 4%. Ether treasury stock Bitmine Immersion continued its rally, jumping 12% Friday.

The U.S. House of Representatives appeared poised to pass key crypto legislation on Thursday, including the creation of a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins,

If passed, the Crypto Week legislation could lead to new ways to use the currencies, corporate adoption, and institutional investment.