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

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.

The cryptocurrency industry spent more than $250 million in the last election to help crypto-friendly candidates run for Congress and the White House.

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.

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

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

The GENIUS Act gives stablecoins real legal backing, paving the way for instant payments, lower fees, and a safer digital dollar you can actually trust.

These assets tend to rally in tandem with ETH during periods of rising market confidence, especially when capital flows into Ethereum Layer 1s and older majors in search of beta.