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.

President Trump held a signing ceremony at the White House on Friday after Congress passed the GENIUS Act, a landmark federal law that will regulate cryptocurrency. Specifically, the GENIUS Act will set government guidelines for the cryptocurrency known as stablecoin.

Trump signed into law the GENIUS Act on Friday – a landmark piece of legislation that establishes federal regulations surrounding digital currency.

It was a remarkable win for the crypto industry — and for President Trump, who campaigned on making the country "the crypto capital of the planet."

There would be a great irony if cryptocurrency — which was created in 2008 to provide an alternative to the mainstream financial system that had just failed — led to another economic crash. But that is what a handful of experts fear could happen now that Congress has passed the GENIUS Act, a major piece of crypto legislation.

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.

Trump and GOP lawmakers said that they had the votes necessary to pass landmark crypto legislation in the House.

A dozen House Republicans bucked Trump and Speaker Mike Johnson to prevent the legislation from advancing on the floor -- joining the entire Democratic caucus -- and, at least temporarily, freezing activity in the House. The final tally was 196-223.