Congressman French Hill (R-AR) is “optimistic” that U.S. lawmakers may pass crucial crypto legislation, including the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Clarity for Payment Stablecoins Act, during their upcoming lame-duck session.

Rep. French Hill Discusses Stablecoin Bill, FIT21

According to the Arkansian lawmaker, Congress will “need to see in this lame duck what’s in the realm of possibility” following the U.S. 2024 presidential election and before the start of a new Congressional period.

“I’m still optimistic that FIT21, which is the regulatory framework bill, and the stablecoin bill have possible consideration in the lame duck,” Hill said.

The stablecoin bill sponsored by Rep. Patrick McHenry (R-NC), which Hill most recently supported, would implement regulatory guidelines on pegged digital assets.

FIT21 notably passed through the U.S. House of Representatives with strong bipartisan support this past May, though its traction has since stalled in the Senate.

“As FTX’s collapse showed, we need a functional regulatory framework in place to create consumer protections that currently do not exist, while ensuring America is a leader in the digital asset market,” Hill said in a statement following its passage. “This legislation passed in a bipartisan manner, signaling that consumer protection and American innovation are priorities for lawmakers on both sides of the aisle.”

The Biden administration has further expressed its opposition to the bill, stating in a May 2022 statement that it lacks “sufficient protections for consumers and investors who engage in certain digital asset transactions.”

Could A New President Energize Crypto Legislation?

However, a new president in the White House may help usher in new crypto legislation, with Donald Trump and Kamala Harris expressing their support for the digital asset sector in recent weeks.

While Harris has not provided details on her proposed crypto policy, Trump has touted the idea of firing United States Securities and Exchange Commission (SEC) Chair Gary Gensler should he win this November.

“We will have regulations, but from now on, the rules will be written by the people who love your industry, not hate your industry,” Trump told attendees of the Bitcoin 2024 Conference.

“Americans deserve clarity and a regulatory framework for payment stablecoins, and @realDonaldTrump understands this,” Hill said in a recent X post. “We have a good #stablecoin bill to deliver that clarity.”

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With the current technology sector still betting on the ongoing AI and cloud-based computing boom, Amazon AWS projected growth of 20% has AMZN targeting a stock price of $230. Indeed, the Amazon Web Services branch of the company is looking to push the e-commerce juggernaut to new heights.

Amid the ongoing earnings season, investors are looking for insight into how various companies are closing out the 2024 year. For Amazon, this could be monumental for its 2025 plans. A boost to its most important business from an investment perspective could have its stock price set to skyrocket.

Also Read: Amazon Stock : 96% of Analysts Give AMZN Buy Rating

Amazon Gets 20% Growth Projection as Stock Price Target Gets a Boost

Throughout the last year, Wall Street has seen the information technology boom as a sector. Microsoft (MSFT), Nvidia (NVDA), and Apple (APPL) have been thriving. With the AI boom taking hold, companies are searching for new ways to compete with the growing demand.

One that has been as successful as any is Amazon (AMZN), which is projecting a 20% growth rate for its AWS business and an increased price target. Indeed, the Q3 earnings report is projected to be a potential game changer for the stock and its position within the market.

BMO Capital has recently solidified its Outperform rating for the stock. Moreover, they have given it a $230 price target, amid its projected AWS cloud growth. Additionally, it has increased both its fiscal year 2024 and fiscal year 2025 earnings per share projects to $4.53 and $5.30, respectively.

Also Read: Amazon Stock: Can AMZN Hit $200 Before Q3 Earnings Report?

But could a positive Q3 report have it set to compete with the three dominant stocks previously mentioned? A recent projection from Investors Business Daily has it sitting just below the tech juggernauts. Specifically, it’s been given a market value target of $2.3 trillion in 2025. That would be the S&P 500’s fifth-highest and the largest in communications services.

Nvidia, Microsoft, Apple, and Alphabet (GOOGL) would be the only companies higher. The expectation does make sense, with Amazon looking to boost its cloud usage but not really becoming a mainstay in the AI sector. The top three companies have become key leaders in that area, and should only continue to grow.