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.

US President Trump is expected to sign the GENIUS Act on Friday, the first major crypto legislation passed by Congress, into law. Yahoo Finance Senior Reporter Ines Ferré outlines the latest. Check out Yahoo Finance's interview with Congressman Mike Haridopolos (R-FL) just after the House passed the GENIUS Act here.

Two of the legislations — the GENIUS Act and the CLARITY Act — were passed with significant bipartisan support.

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 newly passed crypto legislation will establish the U.S. as the global leader in cryptocurrency innovation, said Summer Mersinger, CEO of the Blockchain Association and former CFTC commissioner. During an interview with CNBC,

MARA CEO Fred Thiel discusses the impact of the GENIUS Act on the company, the 'rapidly maturing' crypto industry and U.S. energy policy during and interview on 'Mornings with Maria.'

A legislative win in Congress, and the promise of more to come, has helped lift the prospects and the wealth of the cryptocurrency industry.

Blockchain data from Glassnode showed that on-chain value transferred using USDT dropped 20% in the last 24 hours, while USDC’s jumped by nearly 40%.