The House is expected to vote Thursday on a landmark piece of legislation to regulate cryptocurrency after its fate appeared in limbo when right-wing Republicans staged a rebellion that brought the floor to a standstill.

The US House passes the GENIUS stablecoin bill, establishing federal regulation as it awaits President Trump's signature to become law.

The House is considering bills to provide regulatory clarity for cryptocurrency and the digital assets industry, including the GENIUS Act for stablecoins and the CLARITY Act.

The House took a record nine hours to vote to advance the legislation Wednesday as Republican leaders negotiated with conservative holdouts who blocked the trio of bills.

If passed, the Crypto Week legislation could lead to new ways to use the currencies, corporate adoption, and institutional investment.

Key Points During "Crypto Week" starting July 14, Congress will review two key pieces of crypto legislation.The Genius Act will set the rules of the road for stablecoins, which are already a $250 billion industry.

Bitcoin and other major cryptocurrencies traded higher Wednesday after President Donald Trump said he expects the House to pass the GENIUS Act.