Here's why Circle stock price is soaring

Circle Internet Group (NASDAQ: CRCL) is up 8.51%, trading at $216.59 on Friday at the time of publication as momentum builds around the GENIUS Act passed on Tuesday.The act establishes the first comprehensive federal framework for stablecoins, and its passing opens the door for the regulated use of cryptocurrencies like Bitcoin (BTC) among banks and retailers.For Circle, the largest stablecoin issuer in the country and creator of USD Coin (USDC), the token backed by the U.S. dollar, the Senate’s decision ha ...