Coinbase and Circle Stocks Skyrocket Following U.S. Senate’s Approval of Historic Stablecoin Bill

In a landmark move for the cryptocurrency industry, the U.S. Senate passed the GENIUS Act, a bipartisan stablecoin framework, with a decisive 68-30 vote. This regulatory milestone has sparked a significant rally in digital asset equities, with Circle's stock surging 33.8% to $199 and Coinbase climbing 16.3% to $295.29. The legislation introduces strict reserve requirements and transparency measures for stablecoin issuers controlling over $50 billion in assets, marking a pivotal moment for crypto regulation and market confidence.

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

Crypto markets rallied behind a landmark regulatory development as the U.S. Senate approved the GENIUS Act, a bipartisan stablecoin framework. The 68-30 vote sent shockwaves through digital asset equities, with Circle's stock soaring 33.8% to $199 and Coinbase climbing 16.3% to $295.29.

The legislation mandates strict reserve requirements and transparency measures for issuers controlling over $50 billion in stablecoin supply. Senator Cynthia Lummis hailed the MOVE as transformative: "Today brings us one step closer to becoming a welcoming home for digital asset companies."

Market participants interpreted the regulatory clarity as a bullish signal for compliant platforms. Circle's public market debut earlier this month at $31 per share now appears prescient, while Coinbase's EU expansion plans gain additional tailwinds from domestic policy progress.

Coinbase Secures MiCA License, Expanding EU Crypto Services

Coinbase has obtained a Markets in Crypto-Assets (MiCA) license from Luxembourg's CSSF, granting access to all 27 EU member states. The approval solidifies its position as a compliant global exchange while unlocking services for 450 million potential users.

Luxembourg's selection as Coinbase's European hub reflects its progressive stance on blockchain regulation. The jurisdiction has passed four blockchain-specific laws and maintains a government-wide approach to distributed ledger technology.