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The crypto market cap soared to $4 trillion for the first time after the landmark GENIUS Act and two other key crypto bills passed the US House.
Data from CoinGecko shows the crypto market cap broke above $4 trillion to stand at $4,023,481,048,237 as of 2:12 a.m. EST.
US House Passes GENIUS Act And Other Key Crypto Bills With Bipartisan Support
The surge in the crypto market was a positive response to the passing of three digital asset bills, the GENIUS Act, CLARITY Act and the Anti-CBDC Surveillance State Act, in the US House yesterday.
Progress for the bills was initially delayed due to Republican concerns over central bank digital currencies (CBDCs). After a meeting with pro-crypto US President Donald Trump at the Oval Office earlier this week, the concerned lawmakers changed their stance.
That led to a Thursday vote, where lawmakers voted 294-134 in favor of the CLARITY Act, 308-122 in favor of the GENIUS Act, and 219-210 for the Anti-CBDC Surveillance State Act.
Nearly 80 Democrats threw their support behind the CLARITY Act and over 100 voted yes for the GENIUS Act.
GENIUS Act Heads To Trump’s Desk As Crypto Industry Gains Clarity
The GENIUS Act, which is the only bill to pass both the House and Senate, now head to Trump’s desk for signing at the White House later today.
US Securities and Exchange Commission (SEC) Chair Paul Atkins said in a statement that the GENIUS Act will provide “clear rules of the road.”
JUST IN: The U.S. House has officially passed the GENIUS Act.
This is a historic moment for the crypto industry as GENIUS establishes the first clear regulatory framework for fiat-backed stablecoins in the world’s largest economy 🧵↓ pic.twitter.com/aPFcf79sxu
— Chainlink (@chainlink) July 17, 2025
“Over the coming months and years, I look forward to watching the market leverage the regulatory framework provided by the GENIUS Act to go to market with payment stablecoins solutions that make transactions quicker, cheaper, and safer—all while maintaining robust risk safeguards,” Atkins said.
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