The stablecoin bill, known as the Genius Act, and the crypto market structure bill, known as the Clarity Act, both received notable bipartisan support. Democratic lawmakers joined with Republicans to pass the stablecoin bill 308-122.

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.

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

There would be a great irony if cryptocurrency — which was created in 2008 to provide an alternative to the mainstream financial system that had just failed — led to another economic crash. But that is what a handful of experts fear could happen now that Congress has passed the GENIUS Act, a major piece of crypto legislation.

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

The GENIUS Act gives stablecoins real legal backing, paving the way for instant payments, lower fees, and a safer digital dollar you can actually trust.

These assets tend to rally in tandem with ETH during periods of rising market confidence, especially when capital flows into Ethereum Layer 1s and older majors in search of beta.

Crypto executives poured millions into Trump’s campaign, and now he’s helping to make their priorities into law.

It also opens the door for crypto to leave the speculative Wild West and move into the financial mainstream. Companies like PayPal, Visa, and BlackRock are already building on blockchain rails. Now, they can do it with a legal framework behind them.