The House this week took up a trio of bills that would establish a federal framework for regulating the cryptocurrency industry. One of the measures cleared Congress and is on its way to enactment.

The U.S. House of Representatives has passed the CLARITY Act, a landmark bill that defines whether cryptocurrencies are securities or commodities.

Key Takeaways Crypto frauds have cost investors billions worldwide.Lack of regulation makes it easy for scams to grow undetected.Research and caution are essent

The second attempt to advance a pair of crypto bills came after President Donald Trump intervened Tuesday evening to get the holdouts on board.

The stablecoin bill, known as the Genius Act, and the crypto market structure bill, known as the Clarity Act, both received notable bipartisan support. Democratic lawmakers joined with Republicans to pass the stablecoin bill 308-122.

After a week of squabbling in Washington, the cryptocurrency industry secured one of its primary legislative objectives and made progress toward a second one.

Republicans who voted against the cryptocurrency regulation legislation said they objected to how the bills were structured.

Canadian county Westlock is expected to revisit its regulations as deliberations are ongoing to allow crypto firms to build larger facilities in the region.