President Donald Trump is slated Friday to sign the first major federal law governing cryptocurrency, a business that Trump's family have begun forging strong ties to and have promoted in recent years.

Not all crypto-linked stocks were getting a boost. MicroStrategy, the world’s largest corporate holder of Bitcoin, was down 4.2% on Friday. Shares often follow fluctuations in the price of Bitcoin, which has fallen 1% over the past 24 hours to $117,726, according to CoinDesk.

After a week of squabbling in Washington, the cryptocurrency industry secured one of its primary legislative objectives and made progress toward a second one.

The House of Representatives today approved GENIUS, clearing the way for stablecoin act to go to President Trump for signature. It also passed CLARITY market structure legislation, sending it to the Senate.

House Republicans promoted this week as the latest step for the U.S. to become the “crypto capital of the world.”

On July 17, the US House passed the CLARITY Act; the bill is now heading to the Senate, where it faces a more complex path.

Discover how the CLARITY Act could reshape US crypto regulation, define SEC and CFTC roles and impact investors, innovators and markets beyond Crypto Week.

The crypto sector's market value hit $4 trillion on Friday, according to CoinGecko, marking a milestone that reflects its shift from a nascent asset class to a central part of the global investment landscape.

Rep. Josh Gottheimer highlights growing bipartisan support for crypto regulatory bills focused on stablecoins and oversight clarity.