Shares of crypto-linked companies jumped on Monday, as ether prices advanced after President Donald Trump signed into law a bill regulating stablecoins in the U.S.

President Donald Trump has signed the GENIUS Act into law, setting new regulations for stablecoins, a type of cryptocurrency tied to assets like the U.S. dollar.

President Donald Trump signed the first federal bill to regulate stablecoins, hailing it as a “giant step to cement American dominance of global finance and crypto technology” and delivering a major victory for the digital asset industry.