Circle and Coinbase Stocks Surge as U.S. Senate Passes Historic Stablecoin Bill

Crypto markets welcomed a major policy breakthrough this week as the U.S. Senate passed the GENIUS Act, a bill designed to regulate stablecoins across the country.

The legislative win sent shares of Circle and Coinbase soaring, signaling renewed investor confidence in the regulatory path ahead for digital asset firms.

With strong bipartisan backing, the Guiding and Establishing National Innovation for U.S. Stablecoins Act cleared the Senate with a 68-30 vote. The bill lays out a comprehensive framework for stablecoin issuers, mandating full asset reserves, monthly disclosure reports, and annual audits for companies with over $50 billion in market cap.

Following the vote, Circle, the issuer of USDC, saw its stock jump by 33.82%, ending the day at $199. The company only recently debuted on public markets earlier this month at $31 per share. Meanwhile, Coinbase stock rose 16.32% to close at $295.29, buoyed by optimism that greater regulatory clarity will benefit leading U.S.-based crypto platforms.

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Senator Cynthia Lummis, a vocal advocate for digital assets, hailed the bill’s passage as a pivotal moment. “Today brings us one step closer to becoming a welcoming home for digital asset companies,” she said, urging lawmakers to continue the momentum by passing broader market structure reforms.

Though the GENIUS Act has cleared the Senate hurdle, it still needs approval from the House of Representatives before it can be signed into law by President Donald Trump. If passed, the bill would mark the most significant federal legislation for stablecoins to date—potentially shaping the future of the $150+ billion industry.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.