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

Zack Shapiro, head of policy at the Bitcoin Policy Institute, breaks down the three crypto-related bills currently sitting in the U.S. House of Representatives.

The crypto industry was headed for a landmark moment in the House with three bills that it helped push going to a vote. But a coalition of ultraconservative House Republicans staged a mutiny.

The House voted late Wednesday to take up a bill establishing a regulatory framework for stablecoin issuers, after a record-breaking session that involved intense negotiations to quell a rebellion from hardliners.

The Genius Act, which passed in the Senate last month with broad bipartisan support, would create rules of the road for the $250 billion market for stablecoin, a type of cryptocurrency. The bill is also part of a broader push by Republican lawmakers and President Trump to support the cryptocurrency industry and ease regulations around the emerging sector.

Trump and GOP lawmakers said that they had the votes necessary to pass landmark crypto legislation in the House.

A group of right-wing House Republicans dealt a setback Tuesday to President Trump and GOP leaders' efforts to send legislation establishing the first-ever regulatory framework for stablecoin issuers to Trump for his signature.

GENIUS Act, Anti-CBDC Act, and CLARITY Act pass procedural vote 215-211 in Congress after Trump's Oval Office intervention.