T here would be a great irony if cryptocurrency — which was created in 2008 to provide an alternative to the mainstream financial system that had just failed — led to another economic crash. But that is what a handful of experts fear could happen now that Congress has passed the GENIUS Act, a major piece of crypto legislation.

On Thursday, the House passed a bundle of crypto bills, sending one, the stablecoin legislation known as the GENIUS Act, to President Trump's desk. It is expected to be sign into law Friday afternoon and become the first ever piece of major crypto legislation in the U.S.

It was a remarkable win for the crypto industry — and for President Trump, who campaigned on making the country "the crypto capital of the planet."