Circle Internet Stock Soars 14% on Stablecoin Regulation Hopes

Circle Internet Group's stock surged 14% to $100.63 in morning trading after President Heath Tarbert testified before the House Financial Services Committee, urging full implementation of the GENIUS Act.

The federal framework for payment stablecoins requires reserve requirements, redemption at par, and disclosures, which takes effect no later than January 2027.

Tarbert warned lawmakers that the country risks losing financial influence if the next generation of money and capital markets is built on infrastructure governed outside the United States.

Circle issues USDC, the second-largest stablecoin, with a circulating supply of 73.7 billion tokens, according to Circle Internet Group.