Visa Inc. and Mastercard Inc. shares dropped after the U.S. Senate passed the GENIUS Act, a bill creating federal oversight for stablecoins, according to Benzinga. Analysts say the legislation could open the door for companies like Amazon and Stripe to adopt lower-fee, stablecoin-based payment systems that bypass traditional card networks. Mark Hines of Herrick Lake Investments warned that Visa and Mastercard could face slower growth and fee pressure. President Trump urged the House to pass a clean GENIUS Act quickly and without amendments, emphasizing urgency in a Truth Social post. Visa and Mastercard currently process nearly $28 trillion in combined volume annually.
