In June 2025, Circle Internet Group's USDC saw increased adoption, with Amazon and Walmart integrating it for payments. This followed the U.S. Senate's passage of the GENIUS Act. The bill sets a federal regulatory framework for stablecoins.
The GENIUS Act requires stablecoins to be backed by liquid assets and mandates monthly reserve disclosures. After the Senate's approval, Circle's stock increased by 16%.
The bill now awaits approval in the House of Representatives before potentially being signed by President Donald Trump.