However, as Congress moves on to debate a second bill that would create regulations around cryptocurrencies and exchanges, critics warn that the passage of stablecoin legislation

Coinbase Stock and Robinhood Rise After Crypto Bill Victory. MicroStrategy and Block Also on the Move. Shares of Coinbase Global and Robinhood Markets rallied Friday on the heels of a massive regulatory win that could usher in the wider adoption of cryptocurrencies in the U.S.

Galaxy is expanding aggressively to meet surging demand and remain competitive as more investors flood into the cryptocurrency sector, the company’s global head of asset management said.

Two major pieces of legislation are headed to President Trump's desk. The House approved Mr. Trump's request to claw back billions of dollars in foreign aid and public broadcasting, and passed a historic cryptocurrency regulation bill.

The House this week took up a trio of bills that would establish a federal framework for regulating the cryptocurrency industry. One of the measures cleared Congress and is on its way to enactment.

The measure, which passed the U.S. House with broad bipartisan support after clearing the Senate, is now on track to become law. President Trump lobbied Republicans to support it.

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.

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