This week, the crypto industry experienced significant events related to new legislation, investments, and market achievements. Let’s take a look at the key updates.
The New GENIUS Act for Stablecoins
In the U.S., the GENIUS Act has been passed, regulating dollar-backed stablecoins. President Trump signed this bill after it was approved by the House with bipartisan support. The new rules require stablecoins to be backed by liquid assets such as U.S. dollars and short-term Treasuries, with monthly public reserve disclosures.
> Trump called it *“a giant step to cement the American dominance of global finance and crypto technology.”*
Trump Opens Access to Crypto Investments in 401(k)
President Trump is preparing an executive order that will open up America’s $9 trillion retirement savings market to investments in cryptocurrency, gold, and private equity. Expected this week, the order will allow 401(k) plans to include alternative investments beyond stocks and bonds. The White House states that Trump is focused on *“restoring prosperity for everyday Americans.”*
Ripple’s Success and Crypto Market Growth
Ripple has paid the full $125 million SEC penalty in cash, clearing recent rumors about a crypto payout. However, the case is not over yet, as both parties still need to withdraw their appeals before the case can officially close. Despite this, XRP surged 29% this week, trading above $3.15.
Additionally, the total market cap for cryptocurrencies approached $4 trillion, driven by sharp gains in Ethereum and XRP. Bitcoin crossed the $120,000 mark again, while ETH and XRP also showed significant growth.
This week has seen many landmark events that could significantly alter the landscape of the crypto industry. The passage of new laws and increasing interest from institutional investors create new opportunities for market development and regulation.
