Crypto markets saw movement this past week with several notable developments impacting the industry. The US government aims to implement comprehensive crypto regulation by 2025, merging the CLARITY Act and other proposed bills for a unified approach. Meanwhile, China’s securities regulator is urging brokerages in Hong Kong to pause tokenization of risk-weighted assets (RWA), potentially hindering digital asset growth in that region. PayPal Ventures, on the other hand, has invested in Stablecoin platform Stablechain to improve speed, liquidity and cross-border payments through PYUSD integration. In other market updates, Hyperliquid’s perpetual market share has declined while Lighter and Aster gained traction in the sector. Additionally, Plasma launched its new stablecoin-focused neobank, Plasma One, ahead of its mainnet launch on September 25th. Finally, UXLINK’s multisig wallet hack resulted in a substantial loss of assets, including a 70% price crash to $0.09 after the breach.