Lawmakers in the US have passed the country's first major national cryptocurrency legislation. It is a major milestone for the once fringe industry, which has been lobbying Congress over regulation for years and poured millions into last year's election, backing candidates that included Donald Trump.

President Donald Trump on Friday signed the first major federal law governing cryptocurrency, a business that Trump's family has begun forging strong ties to and has promoted in recent years.

Congress passed the first major crypto legislation in the U.S., marking a major milestone for the digital currency sector. And with President Trump's support, the industry plans to march on.

The crypto industry has secured its first major piece of legislation after US President Donald Trump signed the GENIUS Act into law.