In Washington, D.C., on June 17th and 18th, 2025, the U.S. Senate approved the GENIUS Act, a bipartisan bill designed to regulate stablecoins. (Source: Reuters, AP News) This move has significantly impacted the cryptocurrency market, particularly for companies like Circle.
Circle Internet Group Inc. (CRCL) saw its stock price surge following the Senate's approval. The GENIUS Act mandates that stablecoins be backed by liquid assets and requires monthly disclosure of reserve compositions. (Source: Reuters)
The bill now heads to the House of Representatives before potentially reaching President Trump. This legislation is viewed as a major step towards integrating stablecoins into the traditional financial system. (Source: Reuters, AP News)