On June 24, 2025, Circle Internet Group Inc. (CRCL), the issuer of the USDC stablecoin, saw its stock decline by as much as 7% (Source: Text 1). This drop followed a rally driven by the passage of the GENIUS Act, which establishes a federal framework for stablecoin regulation.
The GENIUS Act, passed on June 17, 2025, requires stablecoins to be backed by liquid assets and mandates monthly disclosure of reserve composition (Source: Text 1). The stock had more than doubled since the Senate passed the Act.
Analysts anticipate increased competition in the digital token space, potentially impacting Circle's market share (Source: Text 1). Fiserv announced plans to launch a digital asset platform, including a new stablecoin (FIUSD) by the end of the year, highlighting the growing interest in the stablecoin market.