Senate Passes GENIUS Act to Regulate Stablecoins, Boosting Coinbase and Circle Stocks

On June 18, 2025, the Senate passed the groundbreaking GENIUS Act aimed at establishing clear federal regulations regarding the use of stablecoins. This legislation is designed to allow banks, fintech companies, and retailers to integrate stablecoins into their operations more securely and compliantly.

Following the announcement, Coinbase's stock surged by 11%, making it the top performing stock in the S&P 500 on that day. Prior to the news, Coinbase shares had already gained over 2% year-to-date. Similarly, Circle Internet Group (CRCL), the issuer of the popular USDC stablecoin, saw its stock price rise by an impressive 20%.

The GENIUS Act paves the way for increased adoption of stablecoins, which are cryptocurrencies pegged to stable assets like the US dollar, providing less volatile digital payment options and financial products.

Next, the bill will move to the House of Representatives, where the STABLE Act — another piece of stablecoin legislation — will be considered. This highlights the growing federal intent to address the regulatory framework surrounding stablecoins.

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Stay tuned for further developments as stablecoin regulation progresses, potentially shaping the future of digital finance and crypto adoption at large.