The Republican-controlled U.S. House of Representatives cleared key procedural hurdles on crypto legislation on Wednesday, a day after President Donald Trump intervened to save the initiative, paving the way for the first federal law for digital assets.

The House of Representatives voted to regulate digital currencies and protect their owners on Thursday during what many lawmakers called "crypto week."

The CLARITY Act and two other crypto bills passed the House with Republican and Democratic support after Maxine Waters criticized them as enabling a "corrupt crypto empire."

House passage of the measures marks a breakthrough for the digital assets sector and sends one of the bills to President Donald Trump.

Trump and GOP lawmakers said that they had the votes necessary to pass landmark crypto legislation in the House.

A key procedural vote fails in the U.S. House, halting progress on several crypto-related bills as bipartisan pushback stalls industry hopes.

The House is voting on a trio of bills intended to boost the legitimacy of the cryptocurrency industry with new regulations