The passage of the GENIUS Act by the U.S. Senate has significantly impacted the stablecoin market, especially affecting Circle's stock.
Impact of the GENIUS Act on the Stablecoin Market
After the passage of the GENIUS Act, which is a new regulatory framework for stablecoins, Circle Internet Group's stock surged by over 50%, reaching a record high of $232.88.
Investor Reactions and Growth Forecasts
The legislative changes have led to increased investor confidence. Circle's CEO Jeremy Allaire noted that the passage of the Act is a historical moment for the U.S. economy. Company revenues are expected to grow by 25-30%.
Regulatory Perspectives in the Cryptocurrency Industry
Experts believe that the passage of the GENIUS Act could revolutionize regulatory standards for stablecoins and influence other markets. Growth in regulation is anticipated to drive financial growth and technological innovation in the crypto industry.
The passage of the GENIUS Act by the U.S. Senate marks an important step toward improved stablecoin regulation and could serve as a foundation for further positive changes in the cryptocurrency industry.
