Cryptocurrency has gained a hold in Americans’ investment portfolios and their retirement accounts — and now it’s a step closer to their wallets for everyday use.

Bitcoin price, XRP and other cryptos have seen big gains this week. The crypto industry notched its first major crypto regulatory win in the U.S. late Thursday.

Congress defines the Genius Act, also known as the Guiding and Establishing National Innovation for US Stablecoins, as providing "regulation of payment stablecoins" making it "unlawful for any person other than a permitted payment stablecoin issuer to issue a payment stablecoin in the United States."

These assets tend to rally in tandem with ETH during periods of rising market confidence, especially when capital flows into Ethereum Layer 1s and older majors in search of beta.

If passed, the Crypto Week legislation could lead to new ways to use the currencies, corporate adoption, and institutional investment.

It also opens the door for crypto to leave the speculative Wild West and move into the financial mainstream. Companies like PayPal, Visa, and BlackRock are already building on blockchain rails. Now, they can do it with a legal framework behind them.

Ripple CEO Brad Garlinghouse compares the passing of the GENIUS Act to that of the historic 2010 Dodd-Frank Act.

A political standoff has delayed a House vote on cryptocurrency legislation as Republicans struggle with timing constraints and internal disagreements over the GENIUS and Clarity acts.