With the U.S. Congress reconvening after the upcoming elections, it’s expected that cryptocurrency legislation will gain momentum again after a long campaign break.
Post-Election Rush on Cryptocurrency Regulation
Last month, Congress paused its legislative work on #Cryptocurrencies to focus on the campaign. Ron Hammond, Director of Government Relations at the Blockchain Association, highlighted key developments and challenges lawmakers will face upon their return. With only five weeks remaining in the session, the final election results could play a crucial role in shaping the slow session’s agenda.
"If election results are not conclusive when Congress reconvenes, it could derail many plans," Hammond warned, adding that the busy legislative agenda includes financial bills, defense and agricultural laws, disaster relief, and potentially stablecoin regulation.
Stablecoin Regulation: A Tight Timeline
Hammond noted that there’s bipartisan momentum for stablecoin legislation, but no final agreement has been reached. He added that if the legislation doesn’t pass this year, there’s still optimism for 2025.
“The election results will set the stage for what’s possible during this session. If stablecoins don’t make it to the finish line this year, it will likely be due to political factors or a lack of time,” he said, referring to a similar situation two years ago when stablecoin legislation was on the table. Key developments in October included the release of a stablecoin discussion draft by Senator Bill Hagerty, which Hammond cited as a focal point for House leaders.
Rumor has it that Hagerty could be a candidate for Treasury Secretary if Donald Trump wins the election, highlighting the potential for future changes in stablecoin policy.
Tether and Broader Market Concerns
Hammond also addressed recent concerns around Tether following a Wall Street Journal report about a possible investigation by New York authorities. Although Tether’s CEO denied the allegations, Hammond suggested it’s a critical issue to watch, particularly with Howard Lutnick’s role in Trump’s campaign and Cantor Fitzgerald’s influence over Tether.
Confidence in a Pro-Crypto Congress
Looking toward 2024, Hammond expressed confidence in an emerging “pro-crypto Congress.” He pointed to a high success rate of pro-crypto candidates from both parties in the primaries, with pro-crypto candidates from both the Democratic and Republican sides in some races.
“As Politico noted last week, next year’s Congress is set to be the most ‘pro-crypto Congress’ yet,” he said. This shift suggests a greater likelihood that stablecoin legislation will pass, even if not in 2024.
Broader Cryptocurrency Regulations on the Horizon
Hammond emphasized that crypto legislation in 2025 will not be limited to stablecoins. A major tax bill will likely include cryptocurrency provisions, and there is also a push to finalize market structure and #NFT​ regulations. Additionally, decentralized finance (#DEFİ ) is expected to receive increased attention.
#cryptoregulation , #stablecoin

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Tether recently launched its stablecoin USDT on the Aptos (APT) blockchain. This integration is expected to provide smoother, cheaper, and faster transactions. Ultimately, these benefits could support price growth for USDT, the world's most widely used stablecoin.
Aptos Launches USDT On-Chain: Key Implications
Layer 1 blockchain Aptos focuses on providing an efficient, scalable, and user-friendly platform for decentralized applications and smart contracts. Aptos highlights that this integration will help extend USDT’s global reach, especially in emerging markets.
With the integration on Aptos, USDT gains high performance, reliability, and interoperability supported by Move technology. Transactions will be more efficient, with low gas fees and fast processing times, making this ideal for microtransactions and large-scale global operations.
Growth of Active Users and Low Transaction Costs
The average number of active Aptos users has surged this year—from 96,000 in January to 170,000 in July. Aptos developers have also reported extremely low gas fees, up to a hundred times lower than other Layer 1 platforms, making transactions very accessible.
USDT integration on Aptos broadens opportunities for developers across different regions, enabling large-scale secure innovation and supporting DeFi.
Recent Developments in the Aptos Ecosystem
Aptos demonstrates its scalability by processing a record-breaking 160 million transactions in a single day this spring. In May, Aptos became the first blockchain to achieve stable sub-second latency for all transaction types, making it the fastest blockchain in Web3.
Aptos also outperformed competing blockchains with a 3,432% increase in decentralized exchange (DEX) trading volume. Additionally, it integrated into major projects and made a series of upgrades to improve network performance.
APT Price Outlook and Projections
Aptos' native token, APT, has recently shown upward momentum. Previously, the APT price attempted to break the $9.25 to $9.30 range, though at the time of writing, it stood at $8.89, reflecting a 2.4% decrease over the last 24 hours. Nevertheless, it has gained 9.8% over the past month.
Crypto analyst Kong Trading predicted that APT could reach $30, supported by buying signals and accumulation, creating optimism for further growth.

#CryptoMarketTrend , #APT🔥 , #TetherUSD , #stablecoin , #CryptoNews🚀🔥

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

#Shibarium , the layer 2 blockchain network, recently surprised the community with a significant rise in transactions over the weekend. According to data from Shibariumscan, the number of transactions on Shibarium increased from 3,690 on October 17 to a peak of 324,590 on October 19.
Unusual Transaction Growth on Shibarium Continues
On-chain data shows that Shiba Inu's scaling solution is maintaining a massive transaction boom. Although the number of transactions has dropped from the peak on October 19, daily transactions now stand at 128,050, reflecting a 3,370% increase within a few days.
It remains unclear what triggered this massive surge in transactions. However, this growth highlights how Shibarium is designed to scale and accommodate increased adoption by the community.
Shibarium Has Seen Large Transaction Volumes Before
About a year ago, daily transactions on Shibarium were in the millions, with some days reaching up to 11 million transactions. This spike was attributed to intense protocol usage. While Shibarium is witnessing positive trends, it is still uncertain what future innovations might drive this continued optimism.
Uncertainty About Future Growth
It is also unclear how long this growth in transactions will last. However, this rise is long overdue for Shiba Inu, as it has been lagging behind its competitors.
Shiba Inu Could Strengthen Its Market Position
This increase in transactions could help Shibarium better compete with other layer 2 networks, such as Base, Optimism, and Arbitrum, which are built on #etherreum . In the long run, this could enhance the significance of the SHIB token.
Shiba Inu is also preparing for new projects, such as the SHI #stablecoin , which is currently in development. At the time of writing, the meme coin was trading at $0.00001819, representing a 4.03% drop in the last 24 hours. The token's market capitalization stands at $10.71 billion, with hopes that market sentiment will improve and help reshape the price outlook.
#shiba⚡ , #memecoin🚀🚀🚀

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$LUNC
was originally known as $LUNA
prior to the collapse of its algorithmic #stablecoin UST in May 2022. The cryptocurrency was worth over $100 and had a capitalization of $40 billion.

However, the stablecoin collapse resulted in an increased token supply, leading to a rapid devaluation and general panic among holders. In just a few days, the previous years’ development was wiped away, effectively bringing #LUNA✅ to a halt.

The #TerraLunaClassic Community presented different initiatives to restore the project’s legacy. For instance, the community recently voted for the Tax2Gas upgrade, which impacted the network’s core components and introduced some critical security patches.

In another development, the community voted to implement a proposal to burn 46.55 million $USTC
through contract migration. As CNF noted in previous updates, efforts to reduce USTC’s circulating supply remain part of the larger goal to return the token to $1. This move could have a strong positive impact on  #LUNC✅ by pushing the price upwards.

Furthermore, #TerraformLabs , the company behind Terra Luna Classic, has been confirmed as closed. This development will help eliminate centralization and restore trust. Thus, the LUNC project is now effectively owned by the community and focuses on long-term rebuilding.

U.S. Senators Cynthia Lummis and Kirsten Gillibrand have put forward a groundbreaking bill focused on the regulation of stablecoins, a key area of the burgeoning digital currency market. This bipartisan initiative highlights a significant move by lawmakers to tighten controls around these digital assets, which are designed to maintain a stable value tied to existing currencies.
Bill Aims to Enhance Stability and Consumer Protection
The proposed legislation comes at a time when stablecoins are becoming more integrated into financial systems, attracting both interest and scrutiny. By introducing requirements such as mandating stablecoin issuers to maintain one-to-one reserves, Senators Lummis and Gillibrand aim to ensure that these digital currencies remain fully backed by tangible assets, thereby enhancing their stability and reliability.
A notable aspect of the bill is its outright prohibition of algorithmic stablecoins. These types of stablecoins do not rely on reserves but instead use algorithms to maintain their value, which can lead to increased volatility and potential manipulation. This measure reflects a growing concern among policymakers about the risks these digital assets could pose to the financial system.
Regulatory and Compliance Measures
In addition to the structural requirements, the legislation also enforces strict compliance with U.S. anti-money laundering and sanctions laws, underscoring a strong commitment to preventing illicit financial activities. The involvement of regulatory bodies in the drafting process ensures that the proposed rules are well-informed and feasible, aiming to protect consumers while fostering a safe environment for digital innovation.
Diverse Opinions on the Proposed Legislation
The bill has garnered a mix of support and skepticism within the Senate. Proponents argue that clear regulatory guidelines are crucial for the continued dominance of the U.S. dollar in the global economy and for maintaining trust in digital transactions. On the other hand, some lawmakers, including Banking Chairman Sherrod Brown and Senator Elizabeth Warren, have voiced concerns. They highlight the need for the legislation to comprehensively address potential systemic risks and provide robust consumer protections.
Senator Brown has also suggested that this bill might need to be considered as part of broader financial regulatory reforms, indicating ongoing debates about the best approach to integrating digital currencies into the U.S. financial landscape.
Conclusion
As stablecoins gain prominence, the legislative proposal by Senators Lummis and Gillibrand represents a pivotal effort to shape the future of digital finance. By setting stringent standards and prohibiting certain types of stablecoins, the bill aims to mitigate risks and ensure that the expansion of digital currencies complements the existing financial system. The ongoing discussions and revisions will likely continue to shape the contours of U.S. digital currency policy.
#crypto #stablecoin

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Online payment giant PayPal has announced that its PYUSD stablecoin has officially launched on the Solana blockchain. Indeed, the company unveiled its stablecoin network expansion in a recent press release. There, it was noted that the decision would make PYUSD both faster and cheaper for people to use.
#stablecoin