Circle Internet (CRCL) Surges 9.3% as Market Enters "Crypto Week"

We recently published Market on Mute? Not for These 10 Stocks With Surprising Gains. Circle Internet Group (NYSE:CRCL) is one of Monday's top performers.

Circle Internet rebounded from the previous trading day’s losses on Monday, gaining 9.27 percent to close at $204.7 apiece as investors took heart from this week’s expected passage of three measures that would regulate the framework for digital currencies.

Over the next few days, the House of Representatives is expected to pass three measures, namely the Genius Act, the Clarity Act, and the Anti-CBDC Surveillance State Act, which, if passed into law, could support Circle Internet Group’s (NYSE:CRCL) aggressive expansion into the digital asset sector.

Weeks earlier, Circle Internet Group (NYSE:CRCL) announced the official submission of an application with the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, First National Digital Currency Bank, N.A.

If approved, the bank would be authorized to operate as a fully regulated trust institution and would oversee the management of the USDC stablecoin reserve on behalf of Circle.

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Disclosure: None. This article is originally published at Insider Monkey.