The US House passed the GENIUS Act, making it the first federal law regulating stablecoins. Here's what it means.

The House took a record nine hours to vote to advance the legislation Wednesday as Republican leaders negotiated with conservative holdouts who blocked the trio of bills.

The US House passes the GENIUS stablecoin bill, establishing federal regulation as it awaits President Trump's signature to become law.

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

On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.

Bitcoin and other major cryptocurrencies traded higher Wednesday after President Donald Trump said he expects the House to pass the GENIUS Act.

President Donald Trump announced Tuesday evening that he reached a deal with Republican lawmakers to move a cryptocurrency bill forward in the House. Earlier that day, a dozen Republicans, among them House Freedom Caucus members and Rep.