Crypto companies such as Coinbase Global and Circle have sought legislation to bring regulatory clarity to their businesses after costly battles with regulators under the Biden administration. They found allies in Trump and many Republicans after pouring money into last year’s election.

The House on Thursday passed a bill setting up a regulatory framework for payment stablecoins, sending the cryptocurrency bill to President Trump’s desk and marking a major win for the industry. Lawmakers voted 308-122 to pass the GENIUS Act following a tumultuous “crypto week” in the chamber that saw competing GOP factions bring the

It was] a very personal favor, as big as you can get — having to do with death and life,” the president claimed.