The US House on Thursday passed major bipartisan legislation that aims to regulate a type of cryptocurrency known as stablecoins, sending the bill to the president’s desk for his signature.

The Republican-controlled House on Thursday passed landmark legislation to regulate stablecoin in a big win for the cryptocurrency industry.

Crypto companies such as Coinbase Global and Circle have sought legislation to bring regulatory clarity to their businesses after costly battles with regulators under the Biden administration. They found allies in Trump and many Republicans after pouring money into last year’s election.