$USDC

🏛️ U.S. Senate Clears Path for Stablecoin Regulation

The Senate passed the GENIUS Act, a bipartisan bill mandating stablecoins be fully backed by liquid assets (e.g., USD or Treasury bills) and subject to monthly reserve disclosures.

This helped Circle (USDC issuer) stock surge ~16–34% post-IPO, potentially transforming stablecoins into core internet money infrastructure.

The bill still needs House approval and the president’s signature, likely by late summer.