Circle leads the decline in crypto shares after the procedural vote of domestic blocks

Circle The shares slipped on Tuesday after the US representative house had not removed an important procedural hurdle that would have increased the voices over long-awaited crypto bills.

The move made the digital asset industry a large setback, which this week as a turning point for regulatory clarity in Washington, DC

Circle, the StableCoin -Medent, who has increased to value since his public market debut last month, fell by about 5%after the vote. Crypto exchange Coin base and Bitcoin Miner Mara Holdings both slipped by about 2%.

Even after the decline in Tuesday, the district shares have still increased more than six times from their IPO. The company is the issuer of USDC, the second largest dollar tablecoin, with about 24% of the global market. Circle did not immediately respond to a request for comments.

The legislation, including the Genius Act, would mark the first time that the United States determines the federal rules for stable coins, a 260 -billion dollar corner of the Krypto market, which underpins most digital assets. The legislation determines the requirements for full reserve, monatat monthly audits and creates a way for private companies, regulated digital dollars under the US government's blessing.

The Genius Act passed the Senate last month, a milestone for the crypto industry and for President Donald Trump, who has brought his administration into harmony with digital wealth devation. It was also a victory for the industry, which spent more than $ 245 million in the 2024 cycle, to choose what is now regarded as the pro-crypto congress in US history.

Finance Minister Scott Bessent said that the US StableCoins market could grow eight times to more than 2 trillion dollars in the coming years if this calculation is issued. The Ai of the White House and the Krypto -Zar David Sacks had predicted that “trillions” of dollars who were asked about US finance notes practically overnight could unlock.

The vote came only a few hours after Fairshake, the most powerful PAC of the crypto industry, and gave cash of $ 141 million in cash, as it fights for regulatory victories and remain pro-crypto candidates for the 2026 midterms. The committee did not comment on this story.

The leadership of House is currently planning a second vote on Tuesday evening, although it is unclear whether the rule or the Bill text will be changed to meet the holdouts.

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