The House is voting on a trio of bills Thursday intended to boost the legitimacy of the cryptocurrency industry with new regulations as President Donald Trump has pushed to make the U.S. the “ crypto capital of the world.

The Republican-controlled House on Thursday passed landmark legislation to regulate stablecoin in a big win for the cryptocurrency industry.

XRP, the native token of the XRP Ledger, shot up to above the $3.5 level in the later hours of the US House session, rallying 14 per cent in 24 hours, according to CoinDesk data. The crypto coin also topped the $200 billion mark in market capitalisation,