The first batch of publicly traded shares Stablecoin Company The Senate passed legislation that would create a regulatory framework for Stablecoins, a value designed to maintain a consistent dollar earlier this week.
Circle shares rose 53% to $227 from $148 as the market opened on Wednesday legislation Passed in the Senate Tuesday night. Stocks of other crypto-related companies have increased in the news Common casesThe leading crypto exchange in the U.S. has received 20% since Wednesday.
The legislation, known as the Genius Act, is a first of all, which will establish regulations and consumer protections for Stablecoin, including full reserves, monthly audits and anti-money laundering compliance. After the Senate passes, it will be sent to the House for a vote and potential revisions.
Circle issues USDCThis is the second largest stable stock after Tether USDT’s market capitalization. Circle CEO Jeremy Allaire expressed support for the bill in A postal exist x After the Senate voted Tuesday night.
“As the experience of the U.S. Senate passing the Genius Act is building history, it takes us one step closer to signing into the groundbreaking legislation that will drive the competitiveness of the U.S. economy and nation for decades,” he wrote.
Circle’s stock price rise comes weeks after the company made its debut in the stock market CRCL. After setting its stock at $31, CRCL opened at $69 on the New York Stock Exchange. On the first day in the market, the company’s stock soared to $103.75 before closing at $82.23, demonstrating strong retail demand for retail to gain entry into the Stablecoin industry.
Stablecoins have become increasingly popular outside the United States since 2021, in ways to address cross-border transfers and protect assets from inflation. However, cryptocurrency companies have long complained that the U.S. stability industry is hampered by a lack of clear regulations, especially on the basis of Biden-era Securities and Exchange Commission chairman Gary Gensler, who has launched dozens of investigations and enforcement actions against cryptocurrency companies.
President Donald Trump’s voice support for the broader cryptocurrency industry, Senate’s passage of the Genius Act. In addition to pushing Congress to pass a stability bill, Trump has also created a country Bitcoin Reserve, pardon crypto criminals Ross Ulbricht And appointed SEC officials to end many lawsuits against crypto companies.
Supported by the U.S. president and increasingly clear regulatory clarity, mainstream companies are considering implementing them into their payment structures, including Yuan,,,,, Google,,,,, Airbnb and X.
