President Trump’s recent cryptocurrency dealings are casting a shadow over efforts to pass legislation for the industry at a key moment, as the Senate gears up to vote on a stablecoin bill

The controversy over President Donald Trump’s crypto profits is threatening to derail a quick deal on bipartisan stablecoin legislation backed by both the crypto industry and the White House.

Bitcoin topped $100,000 on Thursday for the first time since early February, bolstered by a wide-ranging deal between the US and the United Kingdom in a sign that perhaps President Trump’s trade war with the rest of the world is easing.

Bitcoin (BTC) surged past $101,000 during U.S. market hours on Thursday, rising 4.5% over the past 24 hours. It marked the first time the cryptocurrency has crossed the $100,000 threshold since February.

Bitcoin crossed the $100,000 threshold for the first time since February, fueled by expectations of easing trade tensions after US President Donald Trump announced a trade agreement with the UK.