The House of Representatives voted to regulate digital currencies and protect their owners on Thursday during what many lawmakers called "crypto week." The House voted 308-222 to approve the Guiding and Establishing National Innovation for U.

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 crypto sector's market value hit $4 trillion on Friday, according to CoinGecko, marking a milestone that reflects its shift from a nascent asset class to a central part of the global investment landscape.

The House is considering bills to provide regulatory clarity for cryptocurrency and the digital assets industry, including the GENIUS Act for stablecoins and the CLARITY Act.

Not all crypto-linked stocks were getting a boost. MicroStrategy, the world’s largest corporate holder of Bitcoin, was down 4.2% on Friday. Shares often follow fluctuations in the price of Bitcoin, which has fallen 1% over the past 24 hours to $117,726, according to CoinDesk.

The measure, which passed the U.S. House with broad bipartisan support after clearing the Senate, is now on track to become law. President Trump lobbied Republicans to support it.

There would be a great irony if cryptocurrency — which was created in 2008 to provide an alternative to the mainstream financial system that had just failed — led to another economic crash. But that is what a handful of experts fear could happen now that Congress has passed the GENIUS Act, a major piece of crypto legislation.

Two of the legislations — the GENIUS Act and the CLARITY Act — were passed with significant bipartisan support.