Circle

U.S. Senate Takes First Big Step to Advance Stablecoin Bill

The first committee approval of a stablecoin bill in this new congressional session now moves the so-called GENIUS Act toward the Senate floor.

The stablecoin issuer acquired Hashnote earlier this year with plans to expand its USYC token as collateral option for institutional investors.

CCTP V2 enables nearly instant USDC transfers between blockchains with new feature, reducing blockchain transaction times from minutes to seconds.

Previously, only bitcoin (BTC), ethereum (ETH), XRP, stellar (XLM) and certain tokens used in the Bank of Thailand’s settlement system were approved.

Stablecoins have surged since the U.S. election amid economic shifts and U.S. Treasury strategy.

A WSJ article delved into the contrasting styles between Tether's Giancarlo Devasini and Circle's Jeremey Allaire.

“It shouldn’t be a free pass, right?” Jeremy Allaire, a co-founder of stablecoin issuer Circle said.

The Dubai Financial Services Authority (DFSA) approved USDC and EURC as recognized crypto tokens within the Dubai International Financial Centre.

USDC and USDT minting accelerated in the past weeks, providing a bullish signal for crypto markets despite declining token prices.

The Senate has pushed stablecoin bills before, but the chamber is now led by Republicans who want to make Hagerty's latest effort happen.

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