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.

The House of Representatives passed three pieces of crypto legislation on Thursday night. President Donald Trump is expected to sign one of those bills, the Genius Act, into law later today. Crypto investors have seemingly reacted well to the new 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.

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%.

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.

Global crypto market has surged past the $4 trillion mark for the first time, amid GENIUS Act House Vote and 401K crypto investments ahead.