Shares of Coinbase Global and Robinhood Markets rallied Friday on the heels of a regulatory win that could usher in the wider adoption of cryptocurrencies in the U.S.House representatives passed the Clarity Act in a 294-134 vote on Thursday.

President Trump is signing the country's first major legislation aimed at regulating cryptocurrency on Friday.

The crypto industry has secured its first major piece of legislation after US President Donald Trump signed the GENIUS Act into law.

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

The GENIUS bill is expected to be signed into law by President Trump on Friday, marking the first official crypto legislation in the US. The CLARITY bill and the Anti-CBDC Surveillance State bill will head to the Senate for deliberation and final voting.

As Trump prepares to sign the law, Consumer Reports' senior director monitoring digital marketplaces, Delicia Hand, told Ars that the group plans to work with other consumer advocates and the implementing regulator to try to close any gaps in the stablecoin legislation that would leave Americans vulnerable.

During debate on the House floor, Rep. Angie Craig (D-MN) spoke in support of HR 3633, the Digital Asset Market Clarity Act, and raised concerns about President Trump's family involvement in digital assets.