After a week of squabbling in Washington, the cryptocurrency industry secured one of its primary legislative objectives and made progress toward a second one.

Congress just passed its biggest crypto law ever, and Bitcoin didn’t even get a mention. Once the face of financial rebellion, it’s now sidelined while stablecoins take the spotlight.

Congress passed the first major crypto legislation in the U.S., marking a major milestone for the digital currency sector. And with President Trump's support, the industry plans to march on.

President Trump signed into law a bill that establishes the first federal framework for dollar-backed stablecoins, a major victory for an industry that has pushed for more favorable oversight in Washington,

Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."

The U.S. House on Thursday passed the first major piece of nationwide legislation to regulate cryptocurrencies, a move widely expected to bring the once-obscure payment technology further into the mainstream economy.

On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.

The step forward came after several Republican holdouts ultimately flipped their votes after receiving assurances from GOP House leaders that one of the measures -- a bill to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) -- would be attached to the must-pass National Defense Authorization Act.

Starting July 14, the US House of Representatives began what insiders have dubbed “Crypto Week”, a legislative showdown that could redraw the line between government control and financial freedom in the digital age.