The Republican-controlled U.S. House of Representatives cleared key procedural hurdles on crypto legislation on Wednesday, a day after President Donald Trump intervened to save the initiative, paving the way for the first federal law for digital assets.

Bitcoin prices surge to $120,000, but muted returns and uncertainty loom as crypto bills face challenges in US House.

The House passed a key procedural vote advancing crypto bills GENIUS and Clarity, setting up final debate and votes.

The House is considering three bills that would regulate digital currencies. The first, the GENIUS Act, is expected to quickly pass and head to President Donald Trump's desk by Friday.

In a dramatic turn for digital currency, the US House is dedicating the coming week to "Crypto Week," with a series of bills that could reshape how Americans pay, save, and invest, Axios reports. Once sidelined by Wall Street,

The crypto industry will take a step closer to going mainstream this week as a series of industry-friendly bills progress through Congress, paving the way for digital assets to potentially be further integrated into traditional finance.

Donald Trump announced on Wednesday that 11 of the 12 House representatives have agreed to support the GENIUS Act. This follows the House’s 196-222 vote on Tuesday to reject a procedural motion that would have allowed consideration of several crypto-related bills.

Bitcoin has fallen below the $117,000 level on Tuesday after cryptocurrency-related bills were blocked in the House of Representatives.

"Crypto Week" kicks off in the U.S. as lawmakers debate key bills that could reshape digital asset regulation. Here’s what the legislation means for Bitcoin, investors, and the future of crypto in America.