Circle Internet Group Inc.’s shares jumped 20% on Friday after Seaport Global gave the stablecoin issuer its first buy rating in the wake of the US Senate’s move this week to pass legislation setting up regulatory rules for cryptocurrencies pegged to the dollar.

President Donald Trump says he doesn’t want Congress to pad a bill to regulate stablecoins with other provisions. That’s good news for the bill’s prospects, but makes it unlikely that broader legislation sought by crypto exchanges like Coinbase Global will make it to the finish line soon.

Congress passed the GENIUS Act this week, boosting the market for stablecoins. Here's what investors need to know about the corner of the crypto market.