Circle spikes 8% after stablecoin bill passed - Breaking The News

Circle spikes 8% after stablecoin bill passed

18 June

1 min read

EPA-EFE/CRISTOBAL HERRERA-ULASHKEVICH

Circle Internet Group Inc.'s stock surged over 8% on Wednesday following the US Senate's approval of the stablecoin bill, which could potentially unlock broader adoption of digital currencies.

The bill aims to create a regulatory framework for US-dollar-pegged cryptocurrency tokens. The legislation, dubbed the GENIUS Act, received bipartisan support, with several Democrats joining most Republicans to back the proposed federal rules. It passed 68-30.

Circle shares jumped 8.29% on Wednesday morning, trading at $161.51 as of 10:38 am ET.

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