Circle Shares Jump 16% on Stablecoin Bill

Circle Internet Group shares surged 16.1% after bipartisan CLARITY Act text released, easing stablecoin regulatory concerns.
Senators Thom Tillis and Angela Alsobrook authored the legislation, introducing a “functionally equivalent” clause limiting interest‑like rewards but permitting usage‑based incentives.
Circle’s French unit secured AMF approval under EU MiCA, allowing USDC/EURC custody across the EEA and claiming largest regulated e‑money token issuer.
Coinbase shares rose 7% after brokering the compromise; Bitcoin rallied 1.3% near $80,000, supporting crypto‑linked equities ahead of Circle’s Q1 earnings on May 11.