US President Donald Trump signed a landmark bill, the Genius Act, to regulate cryptocurrency on Friday, just a day after the bill passed the House despite some opposition from conservatives. The legislation, called the Genius Act, will be the first major law governing digital currency, establishing a regulatory framework for the $250 billion stablecoin market. Stablecoins are viewed as a relatively safe type of cryptocurrency, backed by assets that are seen as reliable, such as the dollar. “This afternoon, we take a giant step to cement American dominance in global finance and Crypto technology, as we sign the landmark GENIUS Act into law,” said Trump.&nbsp;“We worked hard. It’s a very important act, the GENIUS Act. They named it after me,” the president joked in the East Room to open the signing ceremony. “And I want to thank—I want to thank you. This is a hell of an act.”&nbsp;“I also remain fully committed to my pledge never to allow the creation of a Central Bank Digital Currency in America. It won’t happen,” he added.“The GENIUS Act creates a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoins. This could be perhaps the greatest revolution in financial technology since the birth of the internet itself.”“I pledged that we would bring back American liberty and leadership and make the United States the Crypto Capital of the world—and that’s exactly what we’ve done.”&nbsp;Members of Congress and top executives from crypto and financial firms like Robinhood, Tether, Gemini and others attended the signing ceremony at the White House.&nbsp;The legislation is a huge milestone for the once fringe industry, which has been lobbying Congress over regulation for years and dispensed millions into last year’s election, backing candidates that included Donald Trump.&nbsp;The bill passed the House on Thursday with the support of 206 Republicans and 102 Democrats.&nbsp;The fate of the Genius Act was in question earlier this week when a dozen conservatives stymied a procedural vote. A compromise was ultimately reached, and the holdouts allowed the legislation to proceed.&nbsp;Lawmakers also approved two other cryptocurrency bills, capping what they dubbed the “Crypto Week” in Congress. The Clarity Act would regulate digital commodities beyond stablecoins, and the Anti-CBDC Surveillance State Act prevents the Federal Reserve from issuing any retail central bank digital currency directly to Americans.

The landmark legislation is a huge milestone for the once fringe industry, which has been lobbying Congress over regulation for years and poured millions into last year’s US presidential election, backing candidates that included Donald Trump. The bill passed the House on Thursday.

US President Donald Trump signed a landmark bill, the Genius Act, to regulate cryptocurrency on Friday, just a day after the bill passed the House despite some opposition from conservatives. The legislation, called the Genius Act, will be the first major law governing digital currency, establishing a regulatory framework for the $250 billion stablecoin market. Stablecoins are viewed as a relatively safe type of cryptocurrency, backed by assets that are seen as reliable, such as the dollar. “This afternoon, we take a giant step to cement American dominance in global finance and Crypto technology, as we sign the landmark GENIUS Act into law,” said Trump. “We worked hard. It’s a very important act, the GENIUS Act. They named it after me,” the president joked in the East Room to open the signing ceremony. “And I want to thank—I want to thank you. This is a hell of an act.” “I also remain fully committed to my pledge never to allow the creation of a Central Bank Digital Currency in America. It won’t happen,” he added. “The GENIUS Act creates a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoins. This could be perhaps the greatest revolution in financial technology since the birth of the internet itself.” “I pledged that we would bring back American liberty and leadership and make the United States the Crypto Capital of the world—and that’s exactly what we’ve done.” Members of Congress and top executives from crypto and financial firms like Robinhood, Tether, Gemini and others attended the signing ceremony at the White House. The legislation is a huge milestone for the once fringe industry, which has been lobbying Congress over regulation for years and dispensed millions into last year’s election, backing candidates that included Donald Trump. The bill passed the House on Thursday with the support of 206 Republicans and 102 Democrats. The fate of the Genius Act was in question earlier this week when a dozen conservatives stymied a procedural vote. A compromise was ultimately reached, and the holdouts allowed the legislation to proceed. Lawmakers also approved two other cryptocurrency bills, capping what they dubbed the “Crypto Week” in Congress. The Clarity Act would regulate digital commodities beyond stablecoins, and the Anti-CBDC Surveillance State Act prevents the Federal Reserve from issuing any retail central bank digital currency directly to Americans.

The landmark legislation is a huge milestone for the once fringe industry, which has been lobbying Congress over regulation for years and poured millions into last year’s US presidential election, backing candidates that included Donald Trump. The bill passed the House on Thursday.

Trump signs landmark crypto bill, the Genius Act, jokes ‘They named it after me’

Bitcoin has surged to historic new heights, smashing through the $120,000 level for the first time ever, as traders across the world bet big on looming policy changes out of Washington. According to Reuters, Bitcoin touched a record of $122,571 on Monday before trading slightly below that peak. The move capped weeks of mounting optimism among investors who see the US finally moving to deliver clear regulatory rules for digital assets.&nbsp;Market watchers say the breakout isn’t just technical hype, but the result of a confluence of bullish drivers, from President Donald Trump’s vocal embrace of crypto to heavy institutional buying and growing demand from Asia.<h2>Betting on US clarity: Crypto Week begins</h2>Much of the enthusiasm centres on what’s happening this week in Washington. The US House of Representatives has declared it “Crypto Week”—a high-profile push to debate and potentially pass legislation that could define the future of the industry. According to Reuters, the legislative calendar includes several bills that crypto advocates have been lobbying for over years. Among the most anticipated is the so-called Genius Act, which would finally establish federal rules for stablecoins, a key requirement for integrating crypto with the traditional financial system.&nbsp;Other proposals on the table include the Clarity Act, aiming to set clearer guardrails for how tokens are classified, and the Anti-CBDC Surveillance State Act, which seeks to limit government overreach via central bank digital currencies. Bloomberg reports that crypto industry leaders see the week as a make-or-break moment: either US lawmakers deliver the regulatory certainty the sector craves, or risk seeing innovation move offshore.<h2>Trump’s role in the rally</h2>Bitcoin’s rally has also been powered by President Trump’s unexpected embrace of the sector. Having once called crypto a threat, Trump now brands himself the “crypto president” and has been urging Congress to deliver the legal framework the industry wants.&nbsp;Reuters quotes IG market analyst Tony Sycamore as saying Trump’s pro-crypto pivot is one of the “tailwinds” pushing Bitcoin higher, alongside strong institutional demand and positive momentum across global markets. “It’s been a very strong move over the past week,” Sycamore noted. “It’s hard to see where it stops now.”&nbsp;Meanwhile, Bloomberg highlights that Bitcoin’s resurgence coincides with a broader “risk-on” mood, with stocks also hitting record highs. This environment has helped Bitcoin reassert itself as not just a speculative punt but a potential hedge against broader economic uncertainty.<h2>Not just Bitcoin: crypto market booms</h2>The bullish sentiment isn’t limited to Bitcoin. Reuters reports that Ether, the world’s second-largest cryptocurrency, has climbed to over $3,050, its highest in more than five months. Other tokens like XRP and Solana also saw gains of around 3 per cent each. The entire crypto sector’s market value has swollen to roughly $3.81 trillion, according to CoinMarketCap data.&nbsp;In Asia, demand is also booming. Bloomberg reports that spot Bitcoin ETFs in Hong Kong, launched by China AMC and Bosera, hit record highs on Monday. Meanwhile, Ether ETFs in the city jumped more than 2 per cent, highlighting the global reach of this rally.<h2>A shift in perception</h2>What’s striking to many analysts is how Bitcoin’s image is evolving. Once dismissed as purely speculative, it is increasingly seen as a legitimate store of value, even by some institutional and sovereign players. As OKX’s Singapore CEO Gracie Lin told Reuters, “We’re seeing increasing participation from Asia-based family offices and wealth managers.” She added that this reflects a “structural shift” in how Bitcoin is perceived globally.&nbsp;Bloomberg also quotes George Mandres of XBTO Trading describing the move as a sign of Bitcoin’s maturation into a “macro hedge and a structurally scarce store of value,” boosted by significant flows into spot Bitcoin and Ethereum ETFs.<h2>Is this sustainable?</h2>Not everyone is convinced this rally is built to last. Bloomberg notes that some analysts see it as an “isolated event,” driven more by short-term positioning than deep fundamental changes. Yet even sceptics acknowledge that the combination of Trump’s backing, US policy momentum, and rising demand from Asia could sustain prices at elevated levels, at least for now.&nbsp;For Bitcoin, breaking $120,000 is undeniably a landmark. But as Crypto Week unfolds in Washington, the real test will be whether lawmakers can finally deliver the clear, investor-friendly framework that the industry says it needs to keep growing. &nbsp;

Trump crypto pivot and rising demand from Asia fuel Bitcoin record-breaking rally, with spot ETFs hitting highs in Hong Kong. Bitcoin breakout lifts entire crypto market to $3.81T, with Ether, Solana, and XRP gaining amid bullish sentiment and record ETF inflows.

Bitcoin has surged to historic new heights, smashing through the $120,000 level for the first time ever, as traders across the world bet big on looming policy changes out of Washington. According to Reuters, Bitcoin touched a record of $122,571 on Monday before trading slightly below that peak. The move capped weeks of mounting optimism among investors who see the US finally moving to deliver clear regulatory rules for digital assets. Market watchers say the breakout isn’t just technical hype, but the result of a confluence of bullish drivers, from President Donald Trump’s vocal embrace of crypto to heavy institutional buying and growing demand from Asia. Betting on US clarity: Crypto Week begins Much of the enthusiasm centres on what’s happening this week in Washington. The US House of Representatives has declared it “Crypto Week”—a high-profile push to debate and potentially pass legislation that could define the future of the industry. According to Reuters, the legislative calendar includes several bills that crypto advocates have been lobbying for over years. Among the most anticipated is the so-called Genius Act, which would finally establish federal rules for stablecoins, a key requirement for integrating crypto with the traditional financial system. Other proposals on the table include the Clarity Act, aiming to set clearer guardrails for how tokens are classified, and the Anti-CBDC Surveillance State Act, which seeks to limit government overreach via central bank digital currencies. Bloomberg reports that crypto industry leaders see the week as a make-or-break moment: either US lawmakers deliver the regulatory certainty the sector craves, or risk seeing innovation move offshore. Trump’s role in the rally Bitcoin’s rally has also been powered by President Trump’s unexpected embrace of the sector. Having once called crypto a threat, Trump now brands himself the “crypto president” and has been urging Congress to deliver the legal framework the industry wants. Reuters quotes IG market analyst Tony Sycamore as saying Trump’s pro-crypto pivot is one of the “tailwinds” pushing Bitcoin higher, alongside strong institutional demand and positive momentum across global markets. “It’s been a very strong move over the past week,” Sycamore noted. “It’s hard to see where it stops now.” Meanwhile, Bloomberg highlights that Bitcoin’s resurgence coincides with a broader “risk-on” mood, with stocks also hitting record highs. This environment has helped Bitcoin reassert itself as not just a speculative punt but a potential hedge against broader economic uncertainty. Not just Bitcoin: crypto market booms The bullish sentiment isn’t limited to Bitcoin. Reuters reports that Ether, the world’s second-largest cryptocurrency, has climbed to over $3,050, its highest in more than five months. Other tokens like XRP and Solana also saw gains of around 3 per cent each. The entire crypto sector’s market value has swollen to roughly $3.81 trillion, according to CoinMarketCap data. In Asia, demand is also booming. Bloomberg reports that spot Bitcoin ETFs in Hong Kong, launched by China AMC and Bosera, hit record highs on Monday. Meanwhile, Ether ETFs in the city jumped more than 2 per cent, highlighting the global reach of this rally. A shift in perception What’s striking to many analysts is how Bitcoin’s image is evolving. Once dismissed as purely speculative, it is increasingly seen as a legitimate store of value, even by some institutional and sovereign players. As OKX’s Singapore CEO Gracie Lin told Reuters, “We’re seeing increasing participation from Asia-based family offices and wealth managers.” She added that this reflects a “structural shift” in how Bitcoin is perceived globally. Bloomberg also quotes George Mandres of XBTO Trading describing the move as a sign of Bitcoin’s maturation into a “macro hedge and a structurally scarce store of value,” boosted by significant flows into spot Bitcoin and Ethereum ETFs. Is this sustainable? Not everyone is convinced this rally is built to last. Bloomberg notes that some analysts see it as an “isolated event,” driven more by short-term positioning than deep fundamental changes. Yet even sceptics acknowledge that the combination of Trump’s backing, US policy momentum, and rising demand from Asia could sustain prices at elevated levels, at least for now. For Bitcoin, breaking $120,000 is undeniably a landmark. But as Crypto Week unfolds in Washington, the real test will be whether lawmakers can finally deliver the clear, investor-friendly framework that the industry says it needs to keep growing.

Bitcoin hits a record high of $122,571 as investors rally behind US regulatory clarity, Trump’s crypto pivot, and booming global demand.

Bitcoin breaks $120,000 barrier as US launches ‘Crypto Week’

Crypto investors are gearing up for a pivotal week in Washington, with the US Congress poised to debate and potentially pass new rules for the digital asset sector, a policy shift that has already helped propel bitcoin to record highs. Bitcoin climbed 3.3 per cent on Friday to trade at $117,333.32, extending its gains for the year to 26 per cent. The rally was broad-based across the crypto market, boosting tokens such as ether, XRP, and solana, and driving strong inflows into crypto-linked exchange-traded funds.&nbsp;&nbsp;The total market value of cryptocurrencies has now swelled to around $3.67 trillion, according to CoinMarketCap data. As per Reuters, traders see this surge as a bet on what some are calling “crypto week” in Washington, an ambitious effort by lawmakers to give the industry long-sought regulatory clarity.<h2>A long-awaited policy framework</h2>Starting Monday, the US House of Representatives will debate a series of crypto-related bills, most notably the Genius Act and the Clarity Act. The most significant is the Genius Act, which would create the first comprehensive federal rules for stablecoins, cryptocurrencies designed to maintain a constant value, typically pegged 1:1 to the US dollar.&nbsp;Stablecoins are widely used by traders to move funds between tokens, and their use has soared in recent years. Supporters argue that clear rules will help legitimise stablecoins, making them more acceptable for banks, retailers, and consumers to use for payments.&nbsp;Under the proposed law, stablecoin issuers would have to back their tokens with liquid assets such as US dollars or short-term Treasury bills. They would also be required to publicly disclose the composition of their reserves every month. The Genius Act has already secured bipartisan support in the Senate, with several Democrats joining Republicans. It is expected to pass the House next week before going to US President Donald Trump, who has pledged to sign it into law.<h2>Expanding regulatory oversight</h2>The House is also set to consider the Clarity Act, which seeks to develop a broader regulatory framework for cryptocurrencies and expand the Commodity Futures Trading Commission’s (CFTC) oversight of the sector. The bill aims to settle a longstanding dispute over whether crypto tokens should be classified as securities (which would fall under the Securities and Exchange Commission’s remit) or commodities (regulated by the CFTC).&nbsp;Crypto companies have long argued most tokens should be treated as commodities, a stance that would make it easier for exchanges and platforms to list them. This debate intensified during the Biden administration, with industry players criticising what they saw as aggressive SEC enforcement. If passed in the House, the Clarity Act would head to the Senate, where it still requires approval before reaching Trump’s desk.<h2>Trump’s pro-crypto stance</h2>President Trump has embraced the crypto industry as part of his 2025 campaign messaging, calling himself the “crypto president” and promising to overhaul regulation to favour the sector.&nbsp;Trump himself has ties to several crypto ventures, including World Liberty Financial, a platform run by his sons Eric and Don Jr. This connection has drawn scrutiny from political opponents and ethics experts who warn of potential conflicts of interest. The White House has dismissed these concerns, stating that Trump’s assets are held in a trust managed by his children.<h2>Bullish momentum and sceptics’ warnings</h2>Industry players are watching “crypto week” with high hopes. Even if final passage of the bills stalls, analysts say the mere optics of bipartisan legislative engagement could support prices further. “Investors are racing to take positions ahead of the extra publicity this event could attract,” said Dan Coatsworth, investment analyst at AJ Bell, as quoted by Reuters.&nbsp;Bitcoin’s sharp rally has triggered buying interest across smaller tokens too. Ether was up over 5 per cent, while XRP jumped nearly 10 per cent on Friday. Yet not everyone is convinced the optimism is justified. Some analysts warn that the sector’s rapid integration with traditional finance could create new risks, and that the hype may be running ahead of real-world utility.&nbsp;“The regulatory backdrop has supported prices, and attention has turned to bitcoin’s role in portfolios, with some likening the crypto-asset to ‘digital gold.’ This moniker is likely premature,” said Dirk Willer, global head of macro strategy at Citi. Critics in Congress, such as Democratic Senator Elizabeth Warren, have also raised red flags, arguing the Republican-led effort risks handing the crypto lobby its entire wish list at the expense of consumer protection.<h2>What’s next?</h2>If the bills pass the House next week as expected, the Genius Act would move to President Trump’s desk for final approval, almost certainly becoming law given his support. The Clarity Act would still need to clear the Senate, where negotiations could prove more difficult. For now, crypto markets are cheering what they see as a historic moment: a chance to finally secure the clear, favourable regulatory framework the industry has demanded for years.&nbsp;As Washington prepares for a crucial vote, investors are watching closely to see if “crypto week” delivers on its promise and if the sector’s newly minted gains can hold.&nbsp;

Bitcoin hits record highs ahead of US House votes on the Genius and Clarity Acts, signaling long-awaited regulatory clarity as Trump backs crypto-friendly reforms and markets brace for a pivotal policy shift.

Crypto investors are gearing up for a pivotal week in Washington, with the US Congress poised to debate and potentially pass new rules for the digital asset sector, a policy shift that has already helped propel bitcoin to record highs. Bitcoin climbed 3.3 per cent on Friday to trade at $117,333.32, extending its gains for the year to 26 per cent. The rally was broad-based across the crypto market, boosting tokens such as ether, XRP, and solana, and driving strong inflows into crypto-linked exchange-traded funds. The total market value of cryptocurrencies has now swelled to around $3.67 trillion, according to CoinMarketCap data. As per Reuters, traders see this surge as a bet on what some are calling “crypto week” in Washington, an ambitious effort by lawmakers to give the industry long-sought regulatory clarity. A long-awaited policy framework Starting Monday, the US House of Representatives will debate a series of crypto-related bills, most notably the Genius Act and the Clarity Act. The most significant is the Genius Act, which would create the first comprehensive federal rules for stablecoins, cryptocurrencies designed to maintain a constant value, typically pegged 1:1 to the US dollar. Stablecoins are widely used by traders to move funds between tokens, and their use has soared in recent years. Supporters argue that clear rules will help legitimise stablecoins, making them more acceptable for banks, retailers, and consumers to use for payments. Under the proposed law, stablecoin issuers would have to back their tokens with liquid assets such as US dollars or short-term Treasury bills. They would also be required to publicly disclose the composition of their reserves every month. The Genius Act has already secured bipartisan support in the Senate, with several Democrats joining Republicans. It is expected to pass the House next week before going to US President Donald Trump, who has pledged to sign it into law. Expanding regulatory oversight The House is also set to consider the Clarity Act, which seeks to develop a broader regulatory framework for cryptocurrencies and expand the Commodity Futures Trading Commission’s (CFTC) oversight of the sector. The bill aims to settle a longstanding dispute over whether crypto tokens should be classified as securities (which would fall under the Securities and Exchange Commission’s remit) or commodities (regulated by the CFTC). Crypto companies have long argued most tokens should be treated as commodities, a stance that would make it easier for exchanges and platforms to list them. This debate intensified during the Biden administration, with industry players criticising what they saw as aggressive SEC enforcement. If passed in the House, the Clarity Act would head to the Senate, where it still requires approval before reaching Trump’s desk. Trump’s pro-crypto stance President Trump has embraced the crypto industry as part of his 2025 campaign messaging, calling himself the “crypto president” and promising to overhaul regulation to favour the sector. Trump himself has ties to several crypto ventures, including World Liberty Financial, a platform run by his sons Eric and Don Jr. This connection has drawn scrutiny from political opponents and ethics experts who warn of potential conflicts of interest. The White House has dismissed these concerns, stating that Trump’s assets are held in a trust managed by his children. Bullish momentum and sceptics’ warnings Industry players are watching “crypto week” with high hopes. Even if final passage of the bills stalls, analysts say the mere optics of bipartisan legislative engagement could support prices further. “Investors are racing to take positions ahead of the extra publicity this event could attract,” said Dan Coatsworth, investment analyst at AJ Bell, as quoted by Reuters. Bitcoin’s sharp rally has triggered buying interest across smaller tokens too. Ether was up over 5 per cent, while XRP jumped nearly 10 per cent on Friday. Yet not everyone is convinced the optimism is justified. Some analysts warn that the sector’s rapid integration with traditional finance could create new risks, and that the hype may be running ahead of real-world utility. “The regulatory backdrop has supported prices, and attention has turned to bitcoin’s role in portfolios, with some likening the crypto-asset to ‘digital gold.’ This moniker is likely premature,” said Dirk Willer, global head of macro strategy at Citi. Critics in Congress, such as Democratic Senator Elizabeth Warren, have also raised red flags, arguing the Republican-led effort risks handing the crypto lobby its entire wish list at the expense of consumer protection. What’s next? If the bills pass the House next week as expected, the Genius Act would move to President Trump’s desk for final approval, almost certainly becoming law given his support. The Clarity Act would still need to clear the Senate, where negotiations could prove more difficult. For now, crypto markets are cheering what they see as a historic moment: a chance to finally secure the clear, favourable regulatory framework the industry has demanded for years. As Washington prepares for a crucial vote, investors are watching closely to see if “crypto week” delivers on its promise and if the sector’s newly minted gains can hold.

Crypto markets rally as US Congress prepares for ‘crypto week,’ with key bills poised to reshape regulation and boost investor confidence.

Bitcoin hits record as US Congress prepares for major crypto policy push

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Trump signs landmark crypto bill, the Genius Act, jokes ‘They named it after me’

Bitcoin breaks $120,000 barrier as US launches ‘Crypto Week’

Bitcoin hits record as US Congress prepares for major crypto policy push