$USDC The U.S. Senate passed the bipartisan GENIUS Act on June 18, providing the first federal framework for stablecoins like USDC. The law mandates full reserve backing, monthly disclosures, and safeguards for holders in case of issuer bankruptcy  . USDC issuer Circle saw its stock surge, and Coinbase stock jumped amid news of the bill and its launch of Coinbase Payments, which enables USDC transactions on platforms such as Shopify . Additionally, Coinbase Derivatives is partnering with Nodal Clear to let USDC serve as collateral for U.S. futures contracts, pending final CFTC approval .