Crypto week kicks off on Capitol Hill, with lawmakers set to debate a handful of bills that sources say could have a big impact on the market.

Republican House leaders anticipate passing an industry-friendly stablecoin regulatory bill this week, sending Congress’s first major digital assets legislation to the president and kicking off a series of votes on related measures that supporters have dubbed “Crypto Week.

Bitcoin hit a record $120,000 on Monday as US lawmakers prepared to consider a number of bills aimed at creating clearer regulatory frameworks for digital assets. The world’s largest cryptocurrency climbed 2.