Circle's Stock Soars Further, Boosted by U.S. Stablecoin Regulation Bill and Major Corporate Entries

Circle (NYSE: CRCL), the issuer of USDC, saw its stock price climb to a record high of $164.7 on the evening of the 16th. Having just gone public two weeks ago through an IPO, the stock surged again due to progress in U.S. stablecoin regulatory legislation and expectations for major corporations to enter cryptocurrency payments. The U.S. Senate is set to hold a final vote on the stablecoin regulation bill, the 'GENIUS Act', this Tuesday. The bill mandates full U.S. dollar backing for stablecoins and introduces comprehensive regulations, including annual audits for issuers with a market cap exceeding $50 billion. The advisory team from the Trump administration has expressed support, aiming for legislation by August.