Banking Groups Push for Extended Comment Period on U.S. Stablecoin Rules Under GENIUS Act
TokenPost·60-word summary·1 min read
U.S. banking groups have requested an extended comment period on stablecoin rules under the GENIUS Act, citing concerns over regulatory complexity. In a letter to the Treasury and FDIC, these organizations emphasized the need for more public feedback before finalizing digital asset regulations. The move reflects ongoing debates over the pace and scope of crypto regulation in the United States.
Solana (SOL) is trading near $90, a key resistance level it has struggled to break since February. Trading volume increased 35% to $5.3 billion in 24 hours, the highest weekly volume since early March. Additionally, Solana ETFs saw inflows for eight consecutive days, totaling $50 million, with assets under management reaching $863 million.
GraniteShares launched a 3x leveraged XRP ETF on Nasdaq on April 23, aiming to deliver 300% of XRP’s daily price movement. This move reflects growing institutional interest in XRP-linked products, with the ETF utilizing derivatives to achieve its leverage. The launch marks a significant step in XRP’s integration into mainstream financial markets.
Iran has stated that the reopening of the Strait of Hormuz depends on US compliance with a ceasefire, potentially impacting global oil supplies. The strategic waterway's closure could worsen oil shortages and stall diplomatic efforts in the Middle East. No specific dates or amounts were provided, but the statement highlights ongoing geopolitical tensions affecting energy markets.
Ethereum's staking ratio reached a record 32.33%, locking up around 39 million ETH, which has contributed to renewed trader interest. Over the past week, ETH/BTC fell about 5.5%, with potential for a further 10% decline. Additionally, ETH ETFs saw nearly $494 million in net inflows over eight consecutive days, boosting optimism for ETH reaching $3,000.
Senator Bernie Moreno predicts the CLARITY Act could be finalized by the end of May 2026, boosting hopes for crypto regulation. The likelihood of passage has increased from 38% to 46%, though delays and political pressures persist. A Republican on the Senate Banking Committee continues to advocate for the bill, which aims to establish clearer regulations for the crypto industry.
Senator Bernie Moreno predicts the CLARITY Act could pass by the end of May 2026, signaling progress in crypto regulation. The likelihood has increased from 38% to 46%, though delays and political pressures persist. The bill's passage remains uncertain amid ongoing debates, with a Republican on the Senate Banking Committee actively supporting the legislation.
