Circle Soars as Senate Moves Closer to Stablecoin Clarity

• Circle Internet (CIRC) shares jumped 16% today following the U.S. Senate’s passage of the GENIUS Act- a landmark bill that cements stablecoin legitimacy through strict reserve requirements and monthly transparency rules.
• The bill, pending House approval and President Trump’s signature, is expected to position stablecoins as the “money rail of the internet” by summer’s end, per Bernstein analysts.
• Stablecoins, representing $256 billion of the $3.3 trillion crypto market, could drive growth for major cryptocurrencies like Bitcoin (BTC), with Circle’s stock up from its $31 IPO price.

The U.S. Senate’s approval of the GENIUS Act, a landmark stablecoin bill, has propelled shares of Circle Internet (CIRC) up 16.3% to $173.13 in morning trading on Wednesday, reflecting growing optimism for the sector’s mainstream integration. Circle, the issuer of the second-largest stablecoin by market value, has seen its stock soar from its IPO price of $31 following a robust debut on the New York Stock Exchange earlier this month, with shares last trading at $173.60. The bipartisan Senate vote signals a pivotal shift in the long-stalled regulatory framework for cryptocurrencies, offering stablecoins – a $256 billion segment of the $3.3 trillion crypto market, per CoinMarketCap – a pathway to legitimacy through mandated reserve backing with liquid assets like U.S. dollars and short-term Treasury bills, alongside monthly reserve disclosures. The bill, awaiting passage in the Republican-controlled House of Representatives and President Donald Trump’s approval, is expected to transform stablecoins into the “money rail of the internet” by the end of summer, according to Bernstein analysts.

Stablecoins, pegged to currencies like the U.S. dollar to maintain steady value, have gained traction for their volatility-free utility in transactions, attracting interest from high-profile corporations exploring their own tokens. KBW analysts suggest that stablecoin adoption could bolster major cryptocurrencies like Bitcoin (BTC), amplifying the sector’s growth potential. This legislative breakthrough, fostering clearer rules for issuing and managing dollar-pegged tokens, underscores the evolving role of stablecoins in bridging traditional finance and digital assets, positioning Circle at the forefront of this transformation.

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