Cryptocurrency has gained a hold in Americans’ investment portfolios and their retirement accounts — and now it’s a step closer to their wallets for everyday use.

The Genius Act, which passed in the Senate last month with broad bipartisan support, would create rules of the road for the $250 billion market for stablecoin, a type of cryptocurrency. The bill is also part of a broader push by Republican lawmakers and President Trump to support the cryptocurrency industry and ease regulations around the emerging sector.

President Donald Trump announced Tuesday evening that he reached a deal with Republican lawmakers to move a cryptocurrency bill forward in the House. Earlier that day, a dozen Republicans, among them House Freedom Caucus members and Rep.

Florida lawmakers helped by the cryptocurrency industry are joining a House majority backing the first crypto regulatory bill adopted by Congress.

If passed, the Crypto Week legislation could lead to new ways to use the currencies, corporate adoption, and institutional investment.

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Bitcoin Miners Dominate the List. Circle Internet Group (NYSE:CRCL) is one of Wednesday’s top performers. Circle Internet rallied by 19.39 percent on Wednesday to end at $233.2 apiece as investors remained optimistic about the passage of three bills that would regulate the framework for digital coins and cryptocurrencies,

After clearing a procedural hurdle in the House of Representatives by a 215-211 vote on 16 July, the GENIUS Act now heads to floor debate, having already secured bipartisan Senate