Stablecoins Gain Traction in U.S. as Regulatory Framework Looms

Latest Updates on Trump’s Crypto Policy: Stablecoin Use Set to Increase

The crypto landscape in the U.S. is evolving, with stablecoins gaining traction and regulatory frameworks being discussed. David Sacks, a prominent figure in the crypto space, has been advocating for better regulations and AI roadmaps for crypto trading. However, he also recognizes the need to address the health of stablecoin transactions in the U.S.

Globally, stablecoins are widely used in informal environments such as retail and online purchases. However, the U.S. has been slower to adopt these transactions. Market analysts suggest that the perception of stablecoins as a threat to the U.S. currency's value may be hindering their adoption in retail environments.

Legislative efforts are underway to create a regulatory framework for stablecoin transactions. Senator Hagerty has been a strong supporter of this bill, stating that a proper framework would be crucial for safe crypto regulations and fostering a pro-growth environment.

Retired governor Christopher Waller has also expressed support for the increased use of stablecoins in the U.S. He believes that using stablecoins like Bitcoin for transactions could improve microeconomic conditions and strengthen the dollar.

The momentum around stablecoins is growing, with a total market cap of $233 billion. The U.S. has significant potential for leveraging stablecoin trade. Currently, 97% of the U.S. market belongs to USDT, which has seen a $1 increase in the last 24 hours. This dominance indicates ample scope for market diversification and the entry of more stablecoins.

Under the new government, stablecoin legislation has become more feasible. The latest Crypto task force is gaining momentum, and it remains to be seen how market factors and public pressure will influence the legislative process.