Changes to GENIUS Act May Undermine USD Competitiveness
- Increased Competitive Pressure: The Blockchain Association claims that community banks' push to ban stablecoin issuers from offering yields through third parties is a last-ditch effort by big banks to block competition, potentially undermining the global position of the USD.
- Legislative Risks: Prominent lawyer John Deaton warns that significant changes to the GENIUS Act could become a national security trap, incentivizing the use of China's digital yuan and further threatening the dominance of the USD.
- Market Reactions: Crypto industry executives, including Galaxy Digital CEO Mike Novogratz, express frustration, stating that reversing the law's rewards provisions would be foolish and emphasizing that innovation is key to competing effectively.
- Concerns from Traditional Financial Institutions: The Blockchain Association highlights that the adoption of stablecoins has not threatened traditional financial institutions, but rather low-yield bank accounts primarily benefit large banks, indicating resistance to emerging competition.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for 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 stock.
Support, Resistance & Moving Averages From a structural perspective, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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