$USDC relates to the Law on the Guidance and Creation of National Innovations for Stablecoins in the USA (GENIUS Act) and its recent adoption in the US Senate.

Essentially, this is a landmark piece of legislation aimed at regulating stablecoins in the USA. The adoption of the GENIUS Act is considered a significant event for the cryptocurrency industry, potentially opening doors for broader institutional acceptance and investment in digital assets. It marks an important step towards comprehensive federal regulation of stablecoins in the USA.