The step forward came after several Republican holdouts ultimately flipped their votes after receiving assurances from GOP House leaders that one of the measures -- a bill to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) -- would be attached to the must-pass National Defense Authorization Act.

Crypto companies such as Coinbase Global and Circle have sought legislation to bring regulatory clarity to their businesses after costly battles with regulators under the Biden administration. They found allies in Trump and many Republicans after pouring money into last year’s election.

The stablecoin bill, known as the Genius Act, and the crypto market structure bill, known as the Clarity Act, both received notable bipartisan support. Democratic lawmakers joined with Republicans to pass the stablecoin bill 308-122.