Circle up as US Senate passes stablecoin bill in milestone for crypto industry

** Shares of stablecoin issuer Circle Internet rise 3.4% to $154.19 before the bell** The U.S. Senate after markets closed on Tuesday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, in a watershed moment for the digital asset industry ** Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar peg, are commonly used by crypto traders to move funds between tokens ** USDC, the second-largest stablecoin by market value, is issued by Circle ** The company went public earlier this month in a blockbuster U.S. IPO** Its stock closed the previous session at $149.15, vs IPO price of $31 apiece