$USDC US Stablecoin Legislative Breakthrough

The U.S. Senate Banking Committee passed the 'GENIUS Act' in March 2025, establishing a clear regulatory framework for stablecoins at the federal level for the first time. It requires issuers to fully collateralize with cash and equivalent assets and to periodically disclose reserve audit reports. This move enhances the compliance advantages of USDC, contrasting with the lack of transparency of USDT.

Issuance Plans of Circle

Circle submitted its application for listing on the New York Stock Exchange (stock code CRCL) in April 2025, aiming to enhance liquidity through an IPO and further solidify its position as a compliant stablecoin issuer. Previously, Circle's reserves were held by regulated financial institutions and monthly audit reports were published, attracting partnerships with institutions like Visa and BlackRock.