Circle Internet Group Inc (NYSE:CRCL) stock tumbled on Tuesday after a restrictive Senate draft of a stablecoin bill rattled investors.

However, shares are bouncing back on Wednesday, right after rising in premarket trading.

Meanwhile, Ark Invest doubled down and Circle pushed forward with European and African expansion plans.

Regulatory Pressure Batters CRCL Stock

Circle Internet’s shares plunged after a Senate draft of the CLARITY Act proposed barring companies from paying yield on stablecoin balances held in trading accounts, directly threatening USDC’s appeal as a yield-bearing product.

The rule could slow USDC adoption, reduce wallet growth, and weaken the bull case that regulatory…

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