Cryptocurrency has gained a hold in Americans’ investment portfolios and their retirement accounts — and now it’s a step closer to their wallets for everyday use.

The House of Representatives passed the GENIUS Act, which deals with stablecoin regulation, in a 308-122 vote on July 17.

The US House of Representatives passed three crypto-related bills, including the GENIUS Act. The bills were sent to President Trump's desk after passing both chambers of Congress, marking a major milestone in the legalization of crypto.

The U.S. House of Representatives passed the Genius Act, creating a regulatory framework for stablecoins, and sent it to President Trump for approval. This development boosts the digital asset industry by promising regulatory clarity and consumer protection while reinforcing U.

Ripple CEO Brad Garlinghouse compares the passing of the GENIUS Act to that of the historic 2010 Dodd-Frank Act.

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

The Genius Act, which passed in the Senate last month with broad bipartisan support, would create rules of the road for the $250 billion market for stablecoin, a type of cryptocurrency. The bill is also part of a broader push by Republican lawmakers and President Trump to support the cryptocurrency industry and ease regulations around the emerging sector.

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