U.S. Congress Passes the GENIUS Act: The U.S. Senate passed legislation regarding stablecoins on June 18, establishing a federal regulatory framework for dollar-pegged stablecoins, including reserve requirements and monthly disclosure obligations. CRCL (Circle's parent company) and Coinbase's stock prices surged significantly, seen as a positive signal.
Circle's listing progress is remarkable: CRCL started at an IPO price of $31 on June 5, closing at $83.23 on the first day, and the stock price later approached $200, with a market capitalization reaching tens of billions. USDC circulation is also rapidly increasing.
