The first major crypto regulatory initiative in the U.S. is about to become law after the House of Representatives passed the stablecoin bill known as the GENIUS Act. The approval came directly on the heels of another major legislative accomplishment for the industry, when the House also passed the Clarity Act that would govern the oversight of the digital assets markets in the U.S. The first significant crypto bill is on its way to being signed into law after the U.S. House of Representatives passed stablecoin-regulating legislation known as the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which now gets forwarded to President Donald Trump. The landmark legislative achievement for the crypto industry marks a sharp turnaround from recent years in which the sector languished under resistant U.S. regulators and a Congress unable to finish policy efforts. And it follows close behind another major House action to pass the Digital Asset Market Clarity Act (known as “CLARITY”) — a bill that will establish a full set of rules over the wider crypto markets. The GENIUS Act passed 308-122. Because it arrived as a Senate bill with a 68-30 approval in that chamber, all it needs now is a presidential signature before it becomes the law of the land. Regulators can then begin establishing regulations for the conduct of stablecoin issuers — a field currently dominated by Tether’s USDT and Circle’s USDC but which has drawn a high level of attention from traditional financial institutions, including Wall Street banks. The legislative process again showed a large number of Democrats joining the Republican majority in favor of tailored regulations for the U.S. crypto industry.