#GENIUSActPass Shares of Circle are up 53%, soaring from $148 to $227, since the market opened on Wednesday after the legislation passed in the Senate on Tuesday night. Shares of other crypto-related companies increased on the news with Coinbase, the leading crypto exchange in the U.S., gaining 20% since Wednesday. 

The legislation, known as the GENIUS act, is a first-of-its-kind bill that would establish regulations and consumer protections for stablecoin companies, including full reserve backing, monthly audits, and anti-money laundering compliance.