Circle's Stock Soars 34% After Senate Passes GENIUS Act

Stock Hits All-Time High Amid Regulatory Clarity

Hold onto your hats, folks! Circle's stock rocketed 34% on June 18, closing at a whopping $199.59 after the U.S. Senate gave the green light to the GENIUS Act. This baby even touched a mind-blowing all-time high of $200.90 during the day's trading frenzy, according to Yahoo Finance. Just two weeks prior, on June 5, the stock was chilling at its IPO price of $31. Talk about a wild ride!

Senate's Move Sparks Rally

The surge came hot on the heels of the Senate passing the Guiding and Establishing National Innovation for U.S. Stablecoins Act on June 17, with a decisive 68–30 vote. This game-changing bill sets up a federal framework to regulate dollar-backed stablecoins like Circle's USD Coin (USDC). Now, it's headed to the House of Representatives, with whispers that scheduling talks will kick off next week. The buzz is that supporters are gunning to get it on President Donald Trump's desk before the August congressional recess.

Market Cheers Regulatory Clarity

It's not just Circle feeling the love. Coinbase's stock jumped 14%, and Robinhood's shares climbed 4.5% to hit a new all-time high of $78.35. The market's going wild, folks, reflecting a growing confidence that clear federal oversight of stablecoins could supercharge mainstream adoption and clear the regulatory fog for U.S.-based issuers.

GENIUS Act: A Closer Look

The GENIUS Act isn't messing around. It's laying down federal licensing requirements for stablecoin issuers, demanding full backing of tokens with dollar reserves like cash or Treasuries. Plus, it's handing oversight powers to the Federal Reserve and the Office of the Comptroller of the Currency. But wait, there's more! The legislation is also aiming to boost technical interoperability among blockchain platforms and set a standard for consumer protection. While some states like New York have been regulating stablecoins with their own regimes like BitLicense, the GENIUS Act is bringing it all together under one national standard.

Circle's Star Rises

This Act is shining a spotlight on Circle, cementing its status as a top U.S. issuer with top-notch, institutional-grade practices. Circle's already playing by the strict reserve transparency and compliance rules, and it's paying off. USDC, their flagship product, is making waves in decentralized finance, remittances, and tokenized payment systems. Buckle up, because Circle's on a roll!