US Banking Groups Request Pause on GENIUS Act Rulemaking
- Rulemaking Pause Request: Major US banking groups, including the American Bankers Association, have urged the Treasury and FDIC to delay the comment periods for the GENIUS Act rules by 60 days after the OCC finalizes its stablecoin framework, arguing that the proposals are interdependent and require coordinated assessment.
- Agora's Bank Charter Application: Stablecoin startup Agora filed for a national trust bank charter on April 24, which, if approved, would allow the company to issue stablecoins directly under federal oversight, eliminating what it calls 'egregious fees' in fiat-to-crypto conversions and enabling expansion into compliance and payment services.
- Increased Banking Sector Concerns: Agora CEO Nick van Eck noted that banks are increasingly worried about deposit flight, particularly as users may shift to stablecoin platforms offering higher yields, thereby eroding the yield spread that traditional banks earn from Federal Reserve reserves.
- Impact of the GENIUS Act: Signed into law in July 2025 and set to take effect by January 18, 2027, the banking groups' request could delay the activation of the GENIUS Act by several months, providing traditional lenders with additional time to assess the competitive threat posed by non-bank stablecoin issuers.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0155 | 0.0359 | 0.0494 | 0.0697 | 0.0832 | 0.103 | 0.117 |
| Fibonacci | 0.0359 | 0.0488 | 0.0568 | 0.0697 | 0.0826 | 0.0906 | 0.103 |
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