The U.S. legislative body has recently taken a significant step to lay the foundation for a regulatory framework for the encryption industry. The House of Representatives passed the GENIUS Act with an overwhelming majority of 308 votes in favor and 122 against, which will become the first major regulatory legislation for cryptocurrencies in the United States.

This progress came exceptionally quickly. Just the day before, the bill encountered obstacles during the procedural voting stage, but it was successfully passed the next day. It is noteworthy that the support for the bill within the Democratic Party was surprisingly strong, with some key figures expressing their approval.

Meanwhile, the progress of the CLARITY Act has also attracted attention within the industry. The bill aims to regulate the structure of the digital asset market. Additionally, provisions against Central Bank Digital Currencies (CBDCs) have been included in the defense bill, further highlighting the significance of this week for the encryption industry.

The market has reacted positively to these legislative trends. Although the price of Bitcoin has slightly decreased, Ethereum has seen a significant rise. Even the news regarding taxes has not dampened the market's enthusiasm. Analysts suggest keeping a close eye on the upcoming signing ceremony, which is expected to further drive up the price of Ethereum.

These legislative advancements mark the entry of the encryption currency industry into a new regulatory era. It not only provides industry participants with a clearer legal framework but may also attract more institutional investors into the market. However, this also means that the industry will face stricter regulatory scrutiny.

With the rapid development of the situation, it is recommended that investors and industry participants remain vigilant and closely monitor the latest developments in order to seize market opportunities and respond to potential risks in a timely manner.