The House this week took up a trio of bills that would establish a federal framework for regulating the cryptocurrency industry. One of the measures cleared Congress and is on its way to enactment.

Congress has taken an historic step toward regulating cryptocurrency, with the House passing the GENIUS Act following days of political drama. This bill is the first major crypto legislation ever approved by Congress.

The House of Representatives passed two bills Thursday afternoon that will create regulatory frameworks for both cryptocurrencies and stablecoins. If the bills are enacted, it will be the first time digital assets are officially introduced into the United States financial system.