On Thursday, the House passed a bundle of crypto bills, sending one, the stablecoin legislation known as the GENIUS Act, to President Trump's desk. Trump signed it into law Friday afternoon, making it the first ever piece of major crypto legislation in the U.S.

The U.S. House of Representatives on Thursday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, sending the bill to President Donald Trump,

President Trump took a step Friday toward his goal of giving the crypto industry clear rules of the road when he signed into law legislation establishing a regulatory framework for stablecoin issuers.

However, as Congress moves on to debate a second bill that would create regulations around cryptocurrencies and exchanges, critics warn that the passage of stablecoin legislation

Coinbase and Robinhood are among the leading trading platforms listing cryptocurrencies. The Coinbase (Nasdaq: COIN) stock hit an all-time high (ATH) of $444.64 within a few minutes of the market opening hours on July 18. The stock has been hitting record highs of late, thanks to the progress on key crypto bills in the U.S. Congress.