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.

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 step forward came after several Republican holdouts ultimately flipped their votes after receiving assurances from GOP House leaders that one of the measures -- a bill to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) -- would be attached to the must-pass National Defense Authorization Act.

Bitcoin (BTC-USD) gained 0.6% to $118K in Wednesday morning trading, lifting crypto-related stocks, after President Donald Trump said he persuaded some conservatives that were blocking a vote on crypto legislation to let the bills proceed.

Discover new crypto releases making waves in the investment world. Don't miss out on the trends that are shaping the future of crypto.

On Thursday, the House passed a bundle of crypto bills, sending one, the stablecoin legislation known as the GENIUS Act, to President Trump's desk. It is expected to be sign into law Friday afternoon and become the first ever piece of major crypto legislation in the U.S.

Bitcoin and Ethereum have performed very differently this year. Bitcoin has continued to reach new all-time highs. Ethereum has barley budged as investors try to understand if the network's use case can stand the test of time.