Circle’s inventory surged 34% on June 18 to shut at $199.59 after the GENIUS Act cleared the Senate.
Based on Yahoo Finance data, the inventory briefly touched an all-time excessive of $200.90 earlier than closing at $199.59. The transfer marked a virtually 6.5-fold enhance from the corporate’s preliminary public providing worth of $31 set two weeks earlier on June 5.
The sharp rally got here simply after the U.S. Senate passed the Guiding and Establishing Nationwide Innovation for U.S. Stablecoins Act, a invoice that might set up a complete federal framework for regulating dollar-backed stablecoins equivalent to Circle’s USD Coin (USDC).
The laws, which cleared the Senate with a 68–30 vote on June 17, now heads to the Home of Representatives. Home Monetary Companies Committee employees confirmed that scheduling discussions are anticipated to start subsequent week, though a flooring vote date has not but been introduced. Supporters of the invoice hope to have it on President Donald Trump’s desk earlier than the August congressional recess.
Alongside Circle’s positive aspects, Coinbase’s inventory elevated by 14%, and Robinhood’s inventory rose by 4.5% to achieve a brand new all-time excessive of $78.35. The market response mirrored rising confidence that clear federal oversight of stablecoins might accelerate mainstream adoption and de-risk the regulatory panorama for U.S.-based issuers.
The GENIUS Act creates federal licensing necessities for stablecoin issuers, mandates full backing of tokens with greenback reserves, equivalent to money or Treasuries, and offers the Federal Reserve and the Workplace of the Comptroller of the Foreign money oversight powers.
The laws additionally seeks to enhance technical interoperability amongst blockchain platforms and standardize client safety pointers. Whereas some states, like New York, already regulate stablecoins by native regimes like BitLicense, the GENIUS Act goals to deliver all of these efforts collectively beneath a single nationwide commonplace.
The Act enhances Circle’s standing as a high U.S. issuer with institutional-grade practices, because it already complies with strict reserve transparency and compliance requirements. USDC, Circle’s major product, is presently extensively utilized in decentralized finance, remittances, and tokenized fee techniques.
