As 'Crypto Week' comes to an end, here is why the GENIUS bill, which will establish a regulatory framework for stablecoins in the U.S., matters for crypto and the masses.

As Trump prepares to sign the law, Consumer Reports' senior director monitoring digital marketplaces, Delicia Hand, told Ars that the group plans to work with other consumer advocates and the implementing regulator to try to close any gaps in the stablecoin legislation that would leave Americans vulnerable.

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.

Backers of the Genius Act, a potentially landmark bill that could help "stablecoins" go mainstream, say it would greatly speed electronic payments.

On Thursday, the House passed a bundle of crypto bills, sending one, the stablecoin legislation known as the GENIUS Act, to President Trump's desk. It is expected to be sign into law Friday afternoon and become the first ever piece of major crypto legislation in the U.S.

Meanwhile, the move by Congress to pass the stablecoin legislation without attaching another piece of payments legislation, the Credit Card Competition Act, deals a blow to the chances for passage of the CCCA in the current Congress, observers say. “The avenues for CCCA are dwindling and it continues to face an uphill battle,” Talbott says.

Experts say the legislation could unleash a tidal wave of new stablecoins—and fresh complaints about President Trump's crypto entanglements.

The GENIUS Act prompted Ripple and Circle to apply for U.S. bank charters as Congress cleared new stablecoin regulations.

MARA CEO Fred Thiel discusses the impact of the GENIUS Act on the company, the 'rapidly maturing' crypto industry and U.S. energy policy during and interview on 'Mornings with Maria.'