Experts say the legislation could unleash a tidal wave of new stablecoins—and fresh complaints about President Trump's crypto entanglements.

T here 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.

Trump and GOP lawmakers said that they had the votes necessary to pass landmark crypto legislation in the House.

It was a remarkable win for the crypto industry — and for President Trump, who campaigned on making the country "the crypto capital of the planet."

The US crypto industry is celebrating as Congress passed three major bills in its “Crypto Week” legislative bonanza.

On Thursday, the House passed a bundle of crypto bills, sending one, the stablecoin legislation known as the GENIUS Act, to President Trump's desk. It is expected to be sign into law Friday afternoon and become the first ever piece of major crypto legislation in the U.S.

Bitcoin price traded down while XRP, Ether, Solana and Dogecoin soared Thursday. Key legislation for crypto, including the GENIUS and CLARITY Acts are currently moving through Congress.

Per the Post, Trump has the biggest stake in crypto, worth at least $51 million. His partner on the ticket, JD Vance, also got his beak wet. He reported holding between $250,001 and $500,000 in Bitcoin in his 2024 financial disclosure.