Ether and other crypto related stocks climbed to end the week as the GENIUS Act heads to President Donald Trump's desk to be signed into law. Bitcoin and its proxies took a breather. The price of ether was last higher by 3.

After a week of squabbling in Washington, the cryptocurrency industry secured one of its primary legislative objectives and made progress toward a second one.

ABC News’ Morgan Norwood is joined by House Committee on Financial Services member Rep. William Timmons (R- S.C.) to discuss the newly signed law that would govern cryptocurrencies.

Galaxy is expanding aggressively to meet surging demand and remain competitive as more investors flood into the cryptocurrency sector, the company’s global head of asset management said.

Funding clawback: In a vote early Friday, Congress approved a White House request to claw back $9 billion for foreign aid and public broadcasting, after Republicans bowed to Mr. Trump in an unusual surrender of congressional spending power. The House’s 216-to-213 vote sent the package to Mr. Trump for his signature. Read more ›

Most entities now considering tapping into stablecoins amid the GENIUS Act’s passage say they would first use them for largely “back-end” purposes, like reducing fees paid by merchants to credit card companies or more easily converting currencies from cross-border payments.

Not all crypto-linked stocks were getting a boost. MicroStrategy, the world’s largest corporate holder of Bitcoin, was down 4.2% on Friday. Shares often follow fluctuations in the price of Bitcoin, which has fallen 1% over the past 24 hours to $117,726, according to CoinDesk.

Two major pieces of legislation are headed to President Trump's desk. The House approved Mr. Trump's request to claw back billions of dollars in foreign aid and public broadcasting, and passed a historic cryptocurrency regulation bill.