Regulatory Landscape & Market Impact - Senate passed landmark stable coin legislation, the Genius Act, potentially accelerating payment processing speeds and reducing costs [1] - Regulatory clarity for stablecoins has positively impacted ETH ETFs, leading to a resurgence this month [1] - Visa and Mastercard are experiencing a temporary downturn due to the potential disruption from stable coin payments [3] Company Performance & Innovation - Coinbase and Circle are experiencing significant positive movement following the stable coin legislation [1] - Circle's shares have surged by over 500% since its IPO earlier this month [3] - Coinbase is expanding beyond trading with the introduction of Coinbase Payments, enabling merchants to accept payments in USDC [2] - Coinbase's partnership with Shopify indicates a move towards integrating stable coin payments into e-commerce [2] Stablecoin & Payment Ecosystem - Many stable coins operate on the Ethereum blockchain [2] - The rise of stable coin payments could potentially erode revenue streams for traditional card networks [2]

Today, Bitcoin holds steady ahead of the Fed's latest decision on interest rates. The Senate passes its rulebook for stable coin issuers, the Genius Act. And Kristen Smith of the Salana Policy Institute shares what's next as that bill advances in Congress.Welcome to CNBC's Crypto World. I'm Tana McKiel. Digital currencies holding their ground as investors wait and see how President Trump approaches tensions between Israel and Iran and what the Fed decides to do with interest rates this afternoon.At noon Eas ...

I think the immediate question is the immediacy of how quickly the bill passes to the president's desk and how you see that happening. Well, thanks, Ed. Glad to be here.So the next step here is for the House to take it up. And I think the House is considering its options, but I think we're basically at the finish line here. The House already passed a similar version of the bill called the Stables Act.And I think that we're very close here to having a bill that can go to the president's desk. There is also a ...

Welcome to Catalyst. I'm Brad Smith. We are 30 minutes into the US trading day.Let's get to the three catalysts that we are watching this hour. First up, the Fed decides. We break down everything that you need to know about today's rate decision and updates that the Fed's economic projections will signal as well to investors.Plus, tensions between the US and Iran flare as Trump calls for unconditional surrender as Iran threatens irreparable damage. We've got full coverage ahead. and a major legislative win ...

Jeremy Allaire, CEO of Circle Internet Group, the issuer of one of the world's biggest stablecoins, and Circle co-founder Sean Neville pose outside the New York Stock Exchange (NYSE), on the day of the company's IPO in New York City, U.S., June 5, 2025.Shares of Circle and Coinbase rallied on Wednesday, as Wall Street cheered the Senate's passage of the GENIUS Act, which would establish a federal framework for U.S. dollar-pegged stablecoins. Circle, the issuer of the USDC stablecoin, rose 22% following the ...

Group 1 - The U.S. Senate passed the GENIUS Act with a vote of 68-30, marking the first federal regulatory framework for stablecoins, which are crypto tokens pegged to various assets [1] - The bill received support from 18 Democrats and the majority of Republicans, indicating a growing acceptance of the crypto industry within the Republican Party [2] - The GENIUS Act will now move to the House of Representatives, which is developing its own related legislation, the STABLE Act [3] Group 2 - There was a notable shift in support for the GENIUS Act, as nine Democrats who initially backed the bill requested revisions, leading to a blockage by Senators Elizabeth Warren and Ron Wyden [4] - Senator Warren, a prominent advocate for consumer protections, ultimately voted against the bill, citing a lack of essential regulatory safeguards [5] - The digital assets sector views the passage of the GENIUS Act as a critical moment, with significant investments in lobbying efforts and political engagement from the industry [5]

Regulatory Landscape - Senate passed a major stable coin bill with strong bipartisan support, vote was 68-30 [1] - The bill sets the rules of the road for stable coins [1] - The bill now moves to the House, where it faces questions regarding its movement [1] Legislative Differences - House version of the stable coin bill differs in terms of federal oversight and treatment of foreign issuers [2] - House aims to move stable coin legislation alongside a more complex market structure bill for digital assets [2] Market Outlook - There is momentum and willingness to finalize stable coin legislation [2]

Stablecoin Legislation and Market Impact - Landmark stablecoin legislation is under consideration, potentially establishing regulations and mainstreaming crypto [1] - Circle's market capitalization has reached $34 billion, driven by stablecoin legislation and potential adoption by banks and retailers [5] - Stablecoin legislation backed by U S Treasuries could expand U S dollar usage globally, potentially creating a $2 trillion market [30] - The stablecoin industry is transitioning the economy from an account-driven system to a wallet-based system [32][33] - Stablecoins cannot pay out any yield, as it would be considered an investment contract [35] Retail Adoption and Payment Systems - Retailers like Shopify and Walmart are exploring stablecoins to avoid credit card fees [7] - Retailers are considering stablecoins to accept various payment forms and negotiate lower fees [8][9] - U S consumers prefer credit cards due to convenience and fraud protection, making stablecoin adoption challenging without incentives [11] - Companies like Visa and Mastercard are adapting to stablecoin technology to ease consumer and business transactions [25][26] Cryptocurrency Market Dynamics - Bitcoin experienced a 5% decrease following geopolitical risks involving Iran and Israel [3] - Tron is reportedly planning to go public via reverse merger, with a $26 billion market value [41][46] - Michael Saylor defends MicroStrategy's Bitcoin strategy against Jim Chanos' short position [41][42]

Key Takeaways Mastercard is expanding crypto efforts to enable spending at 150M global locations. MA supports USDC settlement and cross-border transfers via Crypto Credential and stablecoin ties. Partners like Kraken and OKX help MA connect crypto holders with real-world spending options.In Mastercard Incorporated’s (MA) determination to grow, it is dipping its toes in the world of crypto. This is a strategic move aimed at redefining the company’s role in the digital finance landscape. In its effort to st ...

Investment Rating - The industry investment rating is Attractive [7]. Core Insights - Stablecoins are a cryptocurrency category designed to maintain a value pegged to another asset, primarily the USD, and can also be linked to commodities [3][4]. - The GENIUS Act is progressing through the US Congress, which aims to establish clear requirements for stablecoin issuers, potentially reducing ambiguity in the market [13]. - Rising interest rates may increase the transaction costs associated with stablecoins, as they do not pay interest, leading to a higher opportunity cost for users [14]. - Major payment networks like Visa and Mastercard are actively developing stablecoin capabilities, viewing them as incremental opportunities rather than threats [15][16]. Summary by Sections Stablecoin Definition and Functionality - Stablecoins are generally pegged to the USD and can also be linked to other assets, with most maintaining an asset base equivalent to the value of outstanding stablecoins [3]. - They function similarly to deposit accounts without interest, allowing for immediate clearing of transactions [4]. Unique Transaction Capabilities - Stablecoins can facilitate transactions that are difficult to manage with traditional financial instruments, particularly for unpredictable timing or value [9]. Regulatory Developments - The GENIUS Act outlines requirements for stablecoin issuers, including asset holding and reporting obligations, which could clarify the landscape for stablecoin issuance [13]. Market Dynamics - The cost of using stablecoins is expected to rise during periods of increasing interest rates, potentially affecting demand [14]. - Visa and Mastercard have been preparing for stablecoin integration, indicating a strategic move to enhance their service offerings [15][16]. Company Ratings - The report includes various companies in the payments and processing sector, with ratings such as Overweight for Block, Inc and Mastercard, and Equal-weight for others like PayPal and Fiserv [72][74].