$USDC 🟢 Circle (CRCL) Stock Soars 34% After Senate Passes GENIUS Act

Circle (CRCL) stock surged 34%, reaching a new all-time high after the U.S. Senate passed the GENIUS Act — a pivotal bill establishing a federal framework for stablecoin regulation.

This legislative move significantly boosted investor confidence in the stablecoin sector, especially for Circle, the issuer of USDC, one of the largest U.S. dollar-pegged stablecoins.

Key Highlights:

📈 CRCL surged to ~$199.59, up 34% on the day

🏛️ The GENIUS Act provides:

1:1 reserve backing for payment stablecoins

Regulatory oversight under banking authorities

Mandatory monthly reserve disclosures

🪙 Seen as a major step forward for crypto regulation in the U.S.

🚀 Other crypto-related stocks like Coinbase (COIN) and Robinhood (HOOD) also gained on the news

Circle’s role in issuing USDC makes it a direct beneficiary of clear and favorable regulatory policies. The rally signals renewed bullish sentiment for compliant digital asset infrastructure in the U.S.