Jim Cramer warns Circle may lose its edge as BlackRock and Fidelity eye stablecoins, even as Circle stock hits an all-time high post-GENIUS Act.

A key federal banking regulator is set to receive a wave of charter applications under stablecoin legislation heading to President Donald Trump, potentially stretching the agency’s capabilities even as its workforce shrinks.

Congress delivered a watershed victory for the crypto industry on Thursday, passing the first federal legislation to regulate stablecoins and clearing the way for broader use of the technology in everyday finance.

Circle shares slid Tuesday after the House blocked a key procedural vote, stalling momentum on legislation the industry has counted on for regulatory clarity.

Shares of Circle Internet Group are surging Wednesday morning. The stock is gaining following a legislative reversal in Washington.

Circle's initial success has made it extremely expensive. Interest rates affect its revenue, and a large chunk of that revenue goes to Coinbase. Stablecoins could shake up the payments industry, but that doesn't mean Circle is a great investment right now.

Circle shares remain in focus as stablecoins take center stage in what The House of Representatives have dubbed "Crypto Week.” Monitor these important support and resistance chart levels.

The measure, which passed the U.S. House with broad bipartisan support after clearing the Senate, is now on track to become law. President Trump lobbied Republicans to support it.

After clearing a procedural hurdle in the House of Representatives by a 215-211 vote on 16 July, the GENIUS Act now heads to floor debate, having already secured bipartisan Senate