Minnesota Enacts New Cryptocurrency Laws
- Bank Custody Authorization: Governor Walz signed HF 3709, allowing qualified financial institutions in Minnesota to offer virtual currency custody services, which is expected to enhance local banks' competitiveness and meet the rising demand for regulated crypto options, particularly as 20% of St. Cloud Financial Credit Union members already hold crypto.
- Legislative Background: The bill passed the House on April 30 with a 130-4 vote, cleared the Senate on May 6 with a 51-16 margin, and received final House concurrence on May 11, indicating strong legislative support for cryptocurrency regulation.
- Crypto ATM Ban: The SF 3868 law signed on May 5 prohibits crypto ATMs in the state to protect seniors from fraud, requiring existing machines to be shut down by August 1, reflecting the state's serious approach to mitigating cryptocurrency risks.
- Fraud Complaint Statistics: Minnesota recorded 134 complaints related to crypto kiosk fraud from 2023 to 2025, totaling nearly $1 million in losses, with 70 cases in 2025 alone resulting in over $540,000 lost, highlighting the high-risk nature of cryptocurrency transactions.
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Technical Analysis for U
Technical Sentiment Analysis for Union (U). As of , Union (U) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for U stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, U is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Union (U) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.999 | 0.999 | 1 | 1 | 1.001 | 1.001 | 1.001 |
| Fibonacci | 0.999 | 1 | 1 | 1 | 1 | 1.001 | 1.001 |
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