Circle’s action (CRCL), a USD Coin (USDC) stable company, marked a new price maximum price yesterday, June 18, after exceeding the $ 200 barrier.
This price increase was given after the United States Senate approved the National Innovation Orientation and Establishment Law, better known as Genius Law, a regulation that seeks to regulate the issuance of stable currencies in that country.
The price increase reflects the perception that the market has on Circle, as it is an American company that has complied with regulatory standards. At the time of publication of this note, the CRCL price is $ 199:
As cryptooticias has reported, the project establishes a regulatory framework for stablcoins that maintain parity 1: 1 with the dollar. It is a rule that has the objective of Integrate stable currencies into the US financial system.
After its approval in the Senate, the Genius Law must be treated in the House of Representatives.
Finally, it is worth noting that CRCL debuted on June 5 in the New York Stock Exchange (NYSE) and already accumulates a rise greater than 300%, compared to the price of its initial public offer (IPO). An issue to note is that Coinbase, the largest exchange in the United States, has a great shareholding in Circle, which reinforces market confidence.
