Circle Internet Group shares surged Wednesday, a day after the Senate passed a bill that would set up federal boundaries for the use of stablecoins.

Circle Internet Group Inc.’s stock on Wednesday added to its two-week surge, after the U.S. Senate passed a bill called the Genius Act to set up a regulatory framework for stablecoins. Circle Internet the stablecoin issuer that went public on June 5,

Circle shares (NASDAQ:CRCL) have been on a tear since their initial public offering (IPO) earlier this month. Circle shares were initially priced at