U.S. President Donald Trump on Friday signed a law to create a regulatory regime for U.S.-dollar-pegged cryptocurrencies known as stablecoins, a milestone that could pave the way for the digital assets to become an everyday way to make payments and move money.

Crypto backers rejoiced on Friday, after the U.S. House of Representatives passed major legislation to regulate stablecoins.

The passage of the trio of crypto measures marked a successful end for Republicans to what they deemed “Crypto Week.”

“Institutional funds which have been on the sidelines waiting for exactly this type of clarity will flow into the space,” he said.

Donald Trump is preparing to open the $9tn US retirement market to cryptocurrency investments, gold, and private equity in a move that would spur a radical shift in the way Americans’ savings are mana...