On Wednesday, the US Senate approved an important draft law that regulates dollar -supported stablecoins. This development had a major impact on the crypto money markets, and has led to a significant increase in the shares of the company called Circle. Circle’s (NYSE: CRCL) shares 34 percent during the day, then a 6 percent rise in post -working transactions.
Historical Step in Stablecoin Editing
Approved GenIus ACT Draft Law; It sets the rules for exporting and managing the reputable money -supported stablecoins in the United States. The bill is still waiting for the approval of the House of Representatives and the signature of President Donald Trump. However, it is seen that the approval in the Senate received support from both parties. It is suggested that this development may pave the way for the transition to a more competitive and regulatory framework in the field of digital assets.
Circle CEO, Jeremy Allaire, described the bill as an important turning point for the US.
“History is writing,” he said, and argued that this development was a turning point for American competitiveness.
Rising Trust and Stock Performance in Markets
Circle’s share price closed the Wednesday for $ 199.59, and rose to $ 211.87 after overtime. The share has increased over 540 percent since the public offering on June 5th. Thus, CRCL became one of the fastest rising shares in the crypto industry after being opened to the public. The market value of the company exceeded $ 48 billion, leaving most of the traditional payment companies behind.
A significant increase in transaction volumes also occurred. More than 60 million shares changed hands on Wednesday, while this figure was recorded as about twice the average. The share price fluctuated between 148 and 200.89 dollars during the day.
Comments of analysts and sector representatives
The industry analysis company Bernstein states that in the US assessment on Circle, stablecoin innovation in the USA can be revived in the US with the adoption of the bill. Analysts think that regulations can attract sector activities from abroad to the USA.
Analyst Gautam Chhugani in Bernstein, regarding the regulations,
“The draft law clearly describes Stablecoins as a means of payment. Legally enables them to be seen closer to digital cash and opens new doors in front of general adoption,”
commented.
Former US President Donald Trump said in a statement on Truth Social, the law will highlight the United States in the field of digital assets.
“The Senate has passed an extraordinary law in digital assets that will make America an unrivaled leader in digital assets… Digital assets will come, our country will have it,”
He said.
Circle is one of the companies that will benefit the most of the regulations within the country with its US -based and exporting USDC. The company has been calling for a long time to transparent regulations. Recent developments indicate that Circle can play a reputable money -like role in digital environment.
In general, the clarification of the stablecoin regulation in the USA created a positive atmosphere both in the world of financial technology and among investors. According to analysts, with the implementation of the new law, crypto -oriented payments can find more widespread use and the sector can attract more investments. It is suggested that if the draft law enters into force, the US may rise to a more competitive position in the field of digital assets and payments.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
