Crypto Market Cap Surges 10% to $4 Trillion on US Legislation

The crypto market cap has reached an unprecedented milestone, surpassing $4 trillion for the first time. This significant achievement is attributed to the passage of three key digital asset bills in the US House, including the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. These legislative developments have sparked a surge in investor confidence, driving the market cap to $4,023,481,048,237 as of 2:12 a.m. EST.

The GENIUS Act, which has now passed both the House and Senate, is set to be signed by the President. This act establishes the first clear regulatory framework for fiat-backed stablecoins in the world’s largest economy. The SEC Chair has welcomed this development, stating that the GENIUS Act will provide “clear rules of the road” for the market. This regulatory clarity is expected to foster innovation and growth in the crypto industry, making transactions quicker, cheaper, and safer while maintaining robust risk safeguards.

The passage of these bills has been met with bipartisan support, with nearly 80 Democrats voting in favor of the CLARITY Act and over 100 supporting the GENIUS Act. This legislative momentum has coincided with increased institutional buying and historic inflows into U.S.-listed spot Ethereum ETFs, further boosting investor sentiment. The rise in asset prices, including Bitcoin, Ethereum, and XRP, reflects the growing acceptance and integration of digital assets into the mainstream financial system.

The legislative actions are part of the current administration's initiative to make the U.S. a leading jurisdiction for digital asset innovation. The GENIUS Act and the proposals to allow crypto innovation are seen as positive steps towards integrating digital assets into the mainstream financial system. Analysts say that these developments are likely to attract more investors and foster further growth in the crypto market. The passage of these bills is expected to provide clarity and stability, which are crucial for the long-term sustainability of the crypto industry.