The bill now heads to the Senate for consideration, bringing the US one step closer to establishing a clear regulatory framework for Bitcoin and other digital commodities.

The total market value of cryptoassets surged past $4 trillion for the first time, driven by a rally in altcoins and momentum from a sweeping US legislative push to regulate the sector.

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Texas is the third state to install a cryptocurrency reserve, following New Hampshire and Arizona. Sen. Hagenbuch said he isn’t sure what the future of cryptocurrency in Texas will be, but he will do his best to look out for the best interests of Texans.

Crypto-focused stocks rose on Friday, after ether hit a six-month high on the passage of a stablecoin bill by the U.S. House of Representatives.

Investors are betting that a slew of long-sought policy wins for the industry, expected next week, could invite new investment in the asset class.