FILE PHOTO: Representations of cryptocurrencies are seen in front of displayed decreasing stock graph in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration/File photo
(Reuters) -Shares of crypto-linked companies jumped on Monday, as ether prices scaled their highest this year after President Donald Trump signed into law a bill regulating stablecoins in the U.S.
Trump signed the GENIUS Act late on Friday, marking a huge win for crypto industry that has been lobbying for a regulatory framework to gain greater legitimacy. The bill was passed in the House of Representatives by a vote of 308 to 122 on Thursday, after Senate approval.
