CryptoFrontNews

Stellar and five other blockchain groups ask the SEC to write the digital commodity definition directly into proposed federal regulations.
The filing seeks to separate a crypto asset’s status from investment contracts used to sell it, preserving distinct legal tests.
The SEC has yet to adopt the requested wording, leaving the coalition’s proposed changes subject to the rulemaking process.
XLM features in a joint filing seeking clearer digital commodity definitions in federal crypto rules. The organizations want the SEC to distinguish token status from investment-contract sales.
Stellar Joins Five Blockchain Groups in SEC Filing
Diana (@InvestWithD) reports that the Stellar Development Foundation has asked the SEC to clarify digital commodity rules. The filing also carries support from Hedera, Aptos Labs, Ava Labs, the Cardano Foundation, and Chainlink Labs. Their letter responds to the SEC’s proposed Regulation Crypto Assets framework.
https://twitter.com/InvestWithD/status/2112935553121632269?s=20
The first image shows the submission addressed to SEC Secretary Vanessa A. Countryman. It urges the commission to make the digital commodity definition a part of the regulatory text. Groups say participants should have unambiguous text that they can refer to in the rules.
The letter defines Layer 1 networks as "applications, transactions, staking, mining, governance infrastructure. These systems are maintained by the network participants and developed by them. The signatories seek rules that account for how these networks operate.
The filing does not announce a new SEC decision on Stellar or XLM. Instead, it requests changes to a proposed regulatory framework. The commission must consider the comments before finalizing the relevant provisions.
Filing Separates Token Status From Investment Contracts
The second image focuses on Question 131 and proposed Rule 400. The highlighted passage concerns digital commodities sold through investment contracts. The groups want the rules to distinguish the asset from the transaction used to sell it.
Under this approach, a crypto asset would not automatically become a security simply because it appears in an investment contract. However, the particular offering or transaction could still fall under securities laws. The letter asks the SEC to state this distinction directly in the regulation.
Diana’s post says the SEC named XLM, XRP, LINK, HBAR, and other assets as digital commodities in March. The filing seeks to carry that treatment into the actual rule text. It does not mean every transaction involving these tokens falls outside securities regulation.
The submission also addresses secondary-market transactions and the proposed safe harbor. The text questions whether the draft adequately explains the safe harbor’s voluntary nature. These requests concern how the rules would work in practice, beyond the definition itself.
SEC Rulemaking Will Decide Whether Wording Changes
For XLM, the request concerns how regulators describe the token under the proposed framework. It does not settle every legal question involving Stellar-related transactions. The circumstances of a particular offering may still determine which laws apply.
The filing brings together organizations from several blockchain ecosystems. There are different networks and applications for each of these stars: Stellar, Hedera, Aptos, Avalanche, Cardano and Chainlink. They've shared concerns in their joint letter regarding classification and token sales.
The requested language might provide developers and market participants a better reference point. But a submitted comment does not guarantee SEC adoption or binding. Finally, the proposed wording is subject to change or elimination by final regulation.
No XLM price information, trading volume or technical indicators are included in the images. They can therefore not be used to form opinions on short-term market movements. The documented development is a regulatory change and not a change in the condition of trading.
Now the ball is in the SEC's court, with regards to the proposed rules and public feedback. If the commission adopts the language requested, the final language would clarify the difference desired by the signatories. The filing is not yet a final rule of the Federal Regulations but a request.

ARB may have peaked in September, but a three-wave pullback could leave the door open for another upward move.
The $0.093 support level remains central to More Crypto Online’s outlook, with a break weakening the bullish wave setup.
ARB fell to $0.1893 during the displayed session, losing 4.46% as trading volume rose by approximately 54.62%.
ARB’s outlook depends on whether the ongoing pullback remains corrective and holds above the support level identified in the larger chart.
September Rally Gives Way to a Possible Correction
More Crypto Online said ARB may have formed a local top in September. The analyst expects the correction could continue before another advance takes shape. The next move depends on how price behaves during the decline.
Source: X
ARB climbed from its August lows and rallied sharply into September. The chart places the larger resistance zone between roughly $0.2095 and $0.4128. Price retreated after approaching this area, raising the possibility that the rally had reached a temporary peak.
The analyst’s wave count leaves room for a one-two setup. This setup sees a big move up, followed by a move down prior to a subsequent big move up. This reading is still valid when the correction takes the form of a 3-wave decline.
Price action does not confirm the pattern. A three-wave pullback would be a good corrective move, but a more significant breakdown may be in question. The difference is important as it could either set the stage for a further rally or signal a more significant trend reversal.
Why $0.093 Matters to the Wave Count
More Crypto Online identifies $0.093 as the level that must hold for the proposed bullish setup to remain valid. Staying above this threshold would keep the possible one-two structure in play. If it breaks below it, that will require a different interpretation of the chart.
The projection marks several possible retracement areas near $0.1575, $0.1351, $0.1158, and $0.0931. The levels provide traders with reference points during the pullback process. None guarantees a rebound, and price may move through more than one zone.
A move lower would not invalidate the bull market scenario. The important questions are: Does the buyer defend the support and does the fall have the corrective shape? A rebound that forms a higher low would strengthen the case for another advance.
If ARB falls below $0.093, the current wave count would lose support. Such a move could signal a deeper correction than expected. Traders would have to re-evaluate the structure rather than the previous bullish one.
Intraday Selling Adds a Near-Term Concern
A separate intraday chart showed ARB at $0.1893, down 4.46% over 24 hours. The token had climbed toward $0.202 during the evening before turning lower. Its subsequent fall toward $0.189 showed that sellers had taken control of the session.
Source: Coinmarketcap
Trading volume rose by approximately 54.62% over the same period. Higher volume during a price decline points to increased market activity as ARB weakened. The figure alone, however, cannot confirm whether the selling will continue.
Earlier rebounds failed to hold their gains. ARB returned toward $0.198 during the afternoon, then moved above $0.200 before retreating. The final slide through $0.197, $0.195, and $0.192 showed how quickly the recovery faded.
The first rebound would have to occur in the vicinity of the $0.189 area. Moving above $0.192 could bring $0.195 and $0.198 back into view. The recovery of $0.198 would provide a better indication that selling pressure had abated.
Both charts are different time frames and should not be considered as the same setup. The intraday chart indicates weakness in recent days with the larger wave count depending on support around $0.093. For now, More Crypto Online’s recovery scenario remains possible, but it depends on the correction’s shape and the level holding.

The ABA opposes the OCC’s decision to review third-party stablecoin rewards case by case, citing potential deposit flight and reduced bank lending.
The OCC grants stablecoin issuers more reserve flexibility while retaining one-to-one backing, liquidity safeguards and redemption reporting requirements.
The final GENIUS Act rule takes effect January 18, 2027, while anti-money laundering and sanctions compliance proposals remain pending.
The American Bankers Association (ABA) has criticized the Office of the Comptroller of the Currency (OCC) for dropping proposed restrictions on stablecoin rewards. The regulator’s final GENIUS Act rule leaves third-party reward programs subject to case-by-case review. ABA CEO Rob Nichols warned that addressing deposit flight after it occurs is the wrong approach.
https://twitter.com/EleanorTerrett/status/2112946156967759939?s=20
OCC Leaves Stablecoin Rewards Under Case-by-Case Review
The OCC removed a proposal that would have presumed certain arrangements between stablecoin issuers and third parties violated the GENIUS Act. The law prohibits issuers from paying interest or yield directly to stablecoin holders, but does not explicitly ban exchanges from offering rewards.
Banking groups have urged regulators to close this gap, arguing that stablecoin rewards could draw deposits away from traditional banks and reduce lending capacity. However, the OCC will assess individual arrangements and pursue violations or attempts to evade the law.
An OCC official told reporters the agency would let the market develop and respond as issues arise. The regulator also declined to confirm whether existing exchange reward programs comply with the final rule.
Final Rule Gives Stablecoin Issuers More Reserve Flexibility
Beyond rewards, the final rule relaxes several proposed limits on reserve management. The OCC removed a proposed 20-day weighted-average maturity limit, allowing issuers greater flexibility with eligible investments, including longer-dated U.S. Treasuries.
Issuers can also withdraw surplus reserves at any time, provided they maintain sufficient backing for outstanding stablecoins. Additionally, the OCC eased some counterparty limits while retaining risk safeguards.
For redemptions, issuers must notify the OCC within 24 hours if requests exceed 10% of a stablecoin’s outstanding value during a 24-hour period. The final rule retains one-to-one reserve backing, liquidity requirements and stress-testing obligations.
OCC Sets January 2027 Effective Date
Comptroller Jonathan Gould said the rules provide standards for reserve backing, redemptions and risk management. The framework covers eligible issuers, certain bank subsidiaries, nonbank financial companies and qualifying foreign issuers under OCC jurisdiction.
The final rule takes effect January 18, 2027. However, the OCC has not announced when it will begin accepting applications from prospective stablecoin issuers. Meanwhile, anti-money laundering and sanctions compliance rules remain pending.
The OCC and Treasury Department are preparing a separate proposal. The dispute over stablecoin rewards also remains unresolved in negotiations over the CLARITY Act.

Ripple and BCG estimate digital asset custody could improve financial results by up to $100 million for banks holding 200B–300B in assets.
Institutional custody now covers more than 30% of digital assets outside centralized exchanges, with governance and interoperability gaining importance.
Banks are exploring self-custody, Wallet-as-a-Service and multi-custodian models to support tokenization, stablecoins, payments and collateral management.
Ripple and Boston Consulting Group (BCG) say digital asset custody is moving beyond secure storage as financial institutions expand blockchain-based services. Their latest report examines how governance, network connections and financial system integration shape custody decisions. BCG estimates a regional bank with $200 billion to $300 billion in assets could improve its financial results by up to $100 million.
https://twitter.com/Ripple/status/2113041683273183251?s=20
Security Is No Longer the Only Custody Priority
According to BCG, institutional custody now holds more than 30% of digital assets outside centralized exchanges. However, security and private key management have become basic requirements as regulation develops in Europe and the United States.
The report identifies governance controls, interoperability and integration with existing financial systems as growing priorities. It also highlights how increasing bot and artificial intelligence activity makes approval procedures important alongside cryptographic security.
Consequently, institutions are assessing custody based on how securely they can control, transfer and use assets across financial operations. The report draws on contributions from more than 20 financial institution leaders.
Banks and Fintechs Consider Different Custody Models
BCG describes several approaches to custody, depending on institutional needs. Wallet-as-a-Service is gaining traction among retail-focused and payments fintechs, while large banks increasingly license self-custody technology.
Another approach combines custody, settlement assets, payment systems, treasury and execution through one provider. Institutions can also use multiple custodians through a shared orchestration layer, helping manage assets across different networks.
The report says custody supports tokenization, stablecoin issuance, payments, treasury, lending and collateral management. These applications expand its role beyond asset storage and risk control.
Ripple and BCG Link Custody to Financial Returns
BCG estimates that combining digital asset applications with suitable custody decisions could generate up to $100 million in improved financial results for a regional bank with a $200 billion to $300 billion balance sheet.
The report also expects the custody market to consolidate around providers that integrate services, connect networks or offer modular infrastructure. Meanwhile, Ripple provides custody technology alongside stablecoins, payments, treasury management, liquidity and trade execution.
Ripple commissioned BCG to produce the report, Beyond Safekeeping: Custody as the Operating Layer Beneath Digital Finance. The research examines how institutions can select custody models based on their digital asset strategies.

Japan is also reportedly putting SHIB on its Green List, alongside Bitcoin and Ethereum under a pre-approved category.
The reported designation may simplify exchange listing procedures, while broader access and stronger liquidity still depend on market participation.
SHIB’s Japanese exchange presence could support further adoption, but regulatory recognition alone does not guarantee demand or price growth.
Japan’s Green List Brings SHIB Into Focus
SHIB has gained renewed attention after reports linked Shiba Inu to Japan’s Green List for eligible crypto assets. The reported addition places the token alongside Bitcoin and Ethereum within Japan’s pre-approved exchange listing framework. The development could broaden access, although its practical benefits depend on applicable rules.
A post from BSCN Decoded reported the association’s decision and described SHIB’s existing Japanese exchange presence. According to the post, qualifying assets needed listings on at least three registered domestic exchanges. It also stated that Shiba Inu already traded on eight venues before the announcement.
The figures suggest that SHIB had established a trading presence in Japan before this reported milestone. Inclusion could help eligible exchanges assess listing requirements under the relevant framework. However, the designation does not automatically establish identical treatment across every trading platform.
The news was amplified by $SHIB Bezos, who described the development as bullish. The post compared SHIB’s standing with Bitcoin and Ethereum and cited multiple regulated venues. Its claims frame the announcement as progress toward broader recognition within Japan’s crypto market.
Source: X
Exchange Access and Liquidity Remain Central
The reported designation places exchange accessibility at the center of SHIB’s latest market narrative. A clearer listing pathway could make it easier for eligible platforms to support the token. That possibility may increase trading options for customers in Japan.
But the more widely available doesn't necessarily lead to higher demand. Trading activity is driven by customer interest, market conditions, and the liquidity of the individual platforms. Just because the event gets exchanged doesn't mean it will sell more following the event.
Multiple trading venues are not the only thing that is required for liquidity. Order books with greater depth and spreads can facilitate trade. For the improvement of SHIB's Japan markets, actual market data would be required.
The listing status also needs to be distinguished from trading without restriction. Regulatory requirements may still apply in case of a pre-approved framework. Therefore, the claim that SHIB faces no restrictions needs further clarification.
SHIB’s Market Outlook Depends on Wider Adoption
The comparison with Bitcoin and Ethereum offers a useful view of the announcement’s significance. The three assets can be listed together but the market status of each one is different. SHIB is still very much tied to meme-coin trading and community interest.
The difference is important if you are considering if regulatory recognition is likely to facilitate adoption over time. More access to the exchange could lead to more eligible people being introduced to the token. Consistent growth though would need evidence of ongoing participation, not a blink-and-a-breathe momentary reaction.
Investors can follow exchange updates to understand the impact on the availability of SHIB. Volume, order book statistics, and spreads might indicate the volume of market activity. These are indicators that are more direct or concrete than promotional descriptions of the announcement.
The price performance will also be influenced by the overall market conditions of cryptocurrencies. Regulatory changes do not necessarily impact on the speculation of assets as investor sentiment changes. Consequently, a positive listing update cannot guarantee an upward price trend.
For now, Japan’s reported Green List addition gives SHIB a new regulatory development to track. Its importance will depend on how exchanges apply the framework and whether participation expands. Confirmed details and measurable market activity will help establish the development’s longer-term value.

TSV LLC, OKXICE and Kephas Corp. plan blockchain-based stock trading venues, but none has begun trading under the SEC exemption.
The SEC requires firms to publish detailed notices 30 days before launch, with additional conditions for trading third-party tokenized stocks.
The five-year exemption runs through September 17, 2031, with a 0.25% average daily volume limit and a 75-symbol cap.
The U.S. Securities and Exchange Commission has named three firms planning tokenized securities trading venues under its September innovation exemption. TSV LLC, OKXICE and Kephas Corp. notified the agency of their intentions, but none has begun trading. The SEC stressed that appearing on its list does not confirm compliance with the exemption’s requirements.
https://twitter.com/EleanorTerrett/status/2112972022817214761?s=20
Three Firms Plan Different Blockchain Trading Venues
TSV LLC, co-owned by Obsidian Systems co-founders Ali Abrar and Ryan Trinkle, plans to operate on Canton Network. Trinkle also serves on the Canton Foundation board. The company says authorized transfer agents will tokenize shares, with trades paired against Circle’s USDC and Brale’s SBC stablecoins.
OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange, plans to use X Layer, OKX’s Ethereum Layer 2 network. Its notice listed 63 stocks, including Nvidia, Tesla and Apple, in Uniswap v4 pools.
Meanwhile, Kephas Corp., the U.S. subsidiary of Perpetuals Group, plans to operate on Kronos X Public. Founder Patrick Gruhn, formerly head of FTX Europe, leads the company. Its proposed venue would use permissioned trading pools pairing stocks with USDC.
SEC Exemption Sets Conditions Before Trading Begins
The SEC introduced its five-year innovation exemption on September 17, 2026. Firms must publish a detailed notice at least 30 calendar days before operating and notify the agency within one business day.
SEC staff also clarified that venues should publish notices once their operations and access standards are ready for production. For third-party tokenized stocks, venues must wait until the issuer’s 30-day objection period ends without an objection before trading.
The exemption also limits activity in the most liquid stocks to 0.25% of average daily volume per venue and caps listings at 75 symbols. The exemption runs through September 17, 2031. The SEC emphasized that its staff guidance carries no legal force and does not represent a Commission decision. The agency is accepting public comments under file number 4-927.

PENGU rose above $0.0081 as Ali Charts identified fresh bullish signals from SuperTrend and TD Sequential indicators.
PENGU rebounded toward $0.0083 after hitting $0.0071, but must clear $0.0085 and $0.0090 to extend its recovery.
RSI fell to 52.31 while MACD remained positive, suggesting weakening bullish momentum despite the potential for further gains toward $0.013.
Pudgy Penguins’ PENGU has produced fresh bullish signals as its price attempts to recover from October lows. Analyst Ali Charts identified new buy signals from the SuperTrend and TD Sequential indicators after PENGU moved above $0.0081. However, the token remains below key resistance levels following its prolonged decline from September’s high near $0.0109.
Ali Charts Highlights Two Fresh Buy Signals
According to Ali Charts, the SuperTrend indicator has repeatedly anticipated PENGU’s trend changes. Previous bearish flips preceded steep corrections, while bullish flips came before rallies. The latest bullish signal appeared as PENGU pushed above $0.0081.
https://twitter.com/alicharts/status/2112277059389317356?s=20
Ali also reported a new buy signal from the TD Sequential indicator on PENGU’s daily chart. The previous buy signal on August 7 preceded a 77.64% gain, while the September 15 signal preceded a 66.94% increase. A September 25 sell signal came before a 31.58% decline.
Meanwhile, PENGU became available to buy, sell and hold on SoFi, a platform serving more than 15 million members. Ali also noted that the token had maintained a broader pattern of higher highs and higher lows. If another rally approaches 70%, the analyst’s projection places PENGU near $0.013.
PENGU Faces Resistance Despite Recent Recovery
The four-hour chart shows PENGU trading at $0.007890, down 0.67% on the latest candle. The token rebounded toward $0.0083 on October 21–22 after falling near $0.0071 around October 18. However, recent red candles show renewed selling pressure.
Source: TradingView
Immediate support is between $0.0077 and $0.0078, followed by $0.0075 and $0.0071. On the upside, PENGU must reclaim 0.0080–0.0083 before testing $0.0085 and $0.0090.
RSI and MACD Show Mixed Momentum
The Relative Strength Index is at 52.31, below its average of 59.60. Although RSI remains above 50, its decline suggests weakening bullish momentum.
Meanwhile, the MACD line is at 0.000133, above the signal line at 0.000116. Its positive histogram of 0.000017 indicates remaining upward momentum, although the narrowing gap suggests the recovery may be losing strength.

Bitcoin climbed from $81,200 to $83,407 as exchange inflows surged from 7,682 BTC to 25,124 BTC during the rebound.
XRP gained 5.10% to $1.32 as XRP Ledger transaction volume surged, while Cardano rose 5.51% toward $0.23.
Ali Charts set immediate targets of $86,500 for Bitcoin, $2,700 for Ethereum and $1.55 for XRP, with further gains dependent on breakouts.
Bitcoin, XRP and Cardano rebounded as on-chain activity increased around key price levels, according to analyst Ali Charts. Bitcoin rose from $81,200 to $83,407, while XRP gained 5.10% and Cardano climbed 5.51%. Ali highlighted rising exchange inflows and large transactions, then identified immediate price targets for Bitcoin, Ethereum and XRP.
Bitcoin Inflows Jump as Price Reaches $83,407
According to Ali Charts, Bitcoin exchange inflows surged from approximately 7,682 BTC to 25,124 BTC during the price rebound. The cryptocurrency climbed from around $81,200 to an intraday high of $83,407.
https://twitter.com/alicharts/status/2112845562710053319?s=20
Notably, the increase in exchange inflows coincided with Bitcoin’s sharp upward move. Ali questioned whether large market participants were driving these sudden rebounds, pointing to the timing of the on-chain activity.
The analyst also identified $86,500 as Bitcoin’s immediate target. However, Ali stated that the rally could extend further if the market breaks above the specified price levels.
XRP and Cardano Record Sharp Activity Spikes
XRP also rebounded after trading near its $1.25 support level. Ali reported that XRP Ledger transaction volume jumped from approximately 215.87 million to 49.17 billion as activity increased. Meanwhile, XRP rose about 5.10%, moving from around $1.25 to $1.32.
Ali highlighted the transaction surge alongside the recovery, drawing attention to activity around the support level. Cardano recorded a similar pattern near $0.21. According to Ali, whale transactions worth more than $1 million increased from approximately 24 to 51.
During that period, Cardano gained 5.51%, rising from around $0.21 toward $0.23. The analyst cited the increase in large transactions as another example of heightened on-chain activity accompanying a price rebound.
Ali Charts Sets Immediate Targets for Three Cryptocurrencies
Beyond the observed rebounds, Ali Charts listed immediate price targets for Bitcoin, Ethereum and XRP. The analyst set Bitcoin’s target at $86,500 and Ethereum’s at $2,700. For XRP, Ali identified $1.55 as the next target. The analyst stated that breaking above these levels could extend the rally further.
https://twitter.com/alicharts/status/2112965442746958268?s=20
Ali’s assessment focused on rising Bitcoin exchange inflows, increased XRP Ledger transaction volume and more large Cardano transactions. These movements occurred as the three cryptocurrencies recovered from their respective price levels.

Bitcoin recovered above $80,000 after its October 15 decline as buyers replenished bids, though support liquidity remains below its previous peak.
U.S. spot Bitcoin ETFs recorded $653 million in inflows on October 19, despite trading volume remaining below its typical annual level.
Glassnode identifies 86,500–87,500 as resistance, while the Fed’s October 28 decision and MSCI’s November 11 review add uncertainty.
Bitcoin found buyers near $80,000 after its October 15 decline, with bids replenishing within days, according to Glassnode. The recovery faces resistance between $85,000 and $87,500, where older holders’ cost bases, sell orders and leveraged liquidation clusters overlap. Meanwhile, U.S. spot Bitcoin ETFs recorded $653 million in inflows on October 19, despite relatively low trading volume.
Bitcoin Support Holds as ETF Inflows Return
Glassnode reported that Bitcoin briefly fell to an hourly close of $80,100 on October 15, below the U.S. spot ETF cost basis. The next hourly close moved back above that level. Treasury companies tracked by Glassnode hold Bitcoin at an estimated average cost of $80,200.
The exchange order book also showed substantial bids around $80,000. Although the October 15 decline consumed much of that liquidity, buyers replenished the bids by October 20. However, the bids remained smaller than their previous peak.
ETF inflows returned after a week of net outflows, reaching $653 million on October 19. Nevertheless, trading volume remained below a typical daily level from the past year. Glassnode also found that realized profit-taking had slowed to roughly half its pace during September’s market peak.
Bitcoin Faces Resistance Near $87,500
Glassnode identified resistance between $86,500 and $87,500, where substantial sell orders meet liquidation clusters. Bitcoin holders who bought six to 12 months ago have an average cost basis near $86,700. A daily close above that level would return this group to profit on average.
Meanwhile, liquidation clusters near $85,000 and $87,000 could accelerate price movements as leveraged positions close. However, the remaining sell orders could limit upward progress.
Fed Decision and MSCI Review Add Market Risks
Investors are also watching the Federal Reserve’s October 28 rate decision and MSCI’s November 11 index-removal announcement. Strategy could face removal under MSCI’s proposed classification rules for non-operating companies. Any removal would force index-tracking funds to sell its shares.
Separately, altcoin leverage has cooled, with fewer than 5% of tracked altcoins showing elevated funding rates. However, open positions remain only about 5% below October’s peak, leaving substantial leveraged exposure in the market.

XRP's 2024 rally from $0.50 to $3.40 forms the basis for a possible repeat of its earlier 6.8-fold gain.
The $1.73 breakout level stands ahead of higher Fibonacci targets at $6.08 and $9.24, with $8.60 as the projected price.
XRP has rallied from $1.26-$1.31, indicating a recovery, but it is not without its challenges, as resistance levels and trading volumes are crucial.
The weekly chart of XRP indicates a potential reversal and a significant drop in price, with traders closely monitoring to see if buyers can secure key resistance levels.
XRP's Current Setup Resembles Its 2024 Rally
Diana (@InvestWithD) says XRP could repeat its 2024 surge, when the token rose from around $0.50 to $3.40. Her chart compares that rally with recent price action and points to a possible liquidity sweep and bullish change in market structure. She places a potential future target near $8.60.
Source: X
Orange circles mark the two periods Diana compares. The first examples are price action that occurred prior to the 2024 rally, and the second are a few days of consolidation that followed a downward trend.Both areas show price struggling before a possible upward move, though that similarity alone cannot confirm another rally.
XRP has broken from its previous levels of resistance and is trading below multiple weekly resistance levels. The down pattern is caused by selling pressure, which has restricted recovery attempts. The chart is unable to confirm a bigger move to the upside until buyers are able to push above the highs close by.
Liquidity sweep – When the price breaks below a previous low range and then rises. The shift may provoke stop-loss orders and entice speculators hoping for additional losses. A bullish change of character would need a clear break above a previous swing high to support the reversal argument.
XRP Must Break Above $1.73
The post identifies $1.73 as the level that could confirm a breakout. A sustained move above it would show that buyers have pushed through an important price barrier. If XRP fails to reclaim that level, the bullish setup remains unconfirmed.
Trading volume is another factor in the analysis. Diana refers to a large volume spike as part of the potential setup. Stronger volume during a breakout would show greater participation, while a price rise on weak volume could prove difficult to maintain.
The derivatives chart shows sharp changes in long and short positions during August. These shifts occurred alongside a rapid increase in XRP's price. However, the bars show changes in trader exposure, not a reliable forecast of the next move.
Source: Coinglass
XRP remained in a range mostly from $1.30 to $1.55 until the end of August and September. The price rallied again in September and early October, but then pulled back. The moves indicate that trading does not always result in a permanent rally.
The intraday chart shows XRP recovering from roughly $1.26-$1.31, with a reported daily gain of 1.89%. Trading volume reached $1.66 billion as the price approached resistance near $1.32. Holding above $1.29 would help preserve the recovery.
XRP's $8.60 Target Faces Several Hurdles
The post arrives at the target by multiplying $1.27 with the 6.8x gain during the 2024 run-up. Her estimate was $8.60, and the result is approximately that. This estimate assumes a similar percentage increase, but the market is not guaranteed to repeat that performance.
Her chart places Fibonacci extension levels near $6.08 and $9.24 around the proposed target. The $6.08 level would be an earlier test if XRP climbed substantially. Reaching $8.60 would require the token to move through several resistance areas along the way.
The first major test remains the $1.73 breakout level. Failure there could leave XRP trading within its current range or expose lower support. A drop below $1.29 would also weaken the recent intraday recovery.
Care must be taken in reading leveraged positioning, too. Significant shifts in long and short time frames may follow dramatic price swings but do not guarantee the trend. Traders would need to assess price action and volume together.
For now, Diana's $8.60 target depends on XRP repeating the scale of its 2024 rally. If she keeps pressing higher than $1.73, she will be vindicated, but if she fails again, the move will remain unconfirmed. The next reaction around resistance will show whether buyers can make further progress.

Bitcoin’s supply held at a profit dropped to 53.8% after briefly exceeding 60%, reflecting persistent investor uncertainty.
Bitcoin spot flows turned volatile from October 9–21, with outflows nearing $90 million around October 15.
Bitcoin recovered toward $83,000 by October 20 as inflows topped $60 million, despite renewed selling pressure on October 21.
Bitcoin investors remain uncertain as the share of circulating supply held at a profit falls to 53.8%, according to analyst Darkfost. The figure briefly exceeded 60% before retreating toward the 50% neutrality threshold. Meanwhile, Bitcoin spot-flow data from October 9–21 shows volatile capital movements as prices fluctuated between roughly $79,400 and $85,000.
Darkfost Tracks Bitcoin Supply Held at a Profit
Darkfost said modest profit recovery has not yet given holders enough confidence to push prices higher. The analysis excludes Bitcoin held for more than 10 years to better reflect the current, less liquid market.
The analyst noted that the share of supply in profit often fluctuates around 50% during uncertain market conditions. After a capitulation phase pushes that share below 40%, recovery above the neutrality threshold can take time.
According to Darkfost, investor confidence and new demand need time to rebuild. The current 53.8% reading follows a brief rise above 60%, leaving the metric close to its neutral range.
Bitcoin Spot Flows Show Sharp October Swings
The hourly BTC spot inflow and outflow chart records capital movements alongside Bitcoin’s price from October 9 through October 21. Green bars represent positive netflows, while red bars show negative netflows. A yellow line tracks Bitcoin’s price.
Between October 9 and 11, Bitcoin rose from around $81,500 toward $83,000 as several positive netflows exceeded $30 million. The price approached $84,200 on October 11–12 before retreating.
Source: Coinglass
Selling pressure intensified from October 12 through 15. Several negative netflows fell below $30 million, while the largest visible outflow approached $90 million around October 15. Bitcoin subsequently declined toward 80,000–81,000.
Bitcoin Recovers Toward $83,000 Amid Mixed Flows
From October 16 to 18, Bitcoin traded mainly between $81,000 and $82,000 as inflows and outflows alternated. However, positive netflow spikes above $60 million appeared between October 18 and 20, alongside a recovery toward 82,500–83,000.
Selling pressure remained visible on October 21, when another outflow approached $30 million. Bitcoin’s recovery toward $83,000 therefore coincided with inconsistent exchange-flow readings.
The chart places the observed price range between approximately $79,400 and $85,000. It records continued fluctuations in capital flows alongside price movements during the period.

Analyst warns that a daily close below Cardano’s $0.21 channel support could trigger further losses toward $0.17.
ADA whale holdings have remained largely unchanged for 10 days, offering no clear directional signal as bearish momentum strengthens.
Cardano faces immediate support at 0.215–0.220 and resistance at $0.233, with $0.241 marking a stronger recovery hurdle.
Cardano (ADA) faces renewed downside risk after analyst Ali Charts identified a bearish SuperTrend signal and warned of a potential breakdown below $0.21. His October 21 analysis highlighted limited changes in large investor holdings, while ADA traded near $0.225. A daily close below $0.21 could expose the token to $0.17.
Ali Charts Identifies Bearish Signals and Whale Activity
Ali Charts said wallets holding between 100 million and 1 billion ADA have historically coincided with major price movements when their holdings change. However, these large investors’ balances have remained relatively flat over the past 10 days, showing no clear directional bias.
Meanwhile, Cardano’s SuperTrend indicator has turned bearish. Ali noted that a comparable signal appeared May 22 before ADA recorded a 46% correction. However, he cautioned that the earlier decline does not guarantee a repeat.
https://twitter.com/alicharts/status/2112523860675625381?s=20
Ali identified $0.21 as the lower boundary of Cardano’s rising price channel. A daily close below that level would confirm a breakdown in his analysis, potentially opening the way toward $0.17. He is watching both this support and possible reductions in whale holdings for confirmation.
ADA Chart Shows Pressure Below Key Moving Averages
The October 21 chart places ADA near $0.225, down from an early-October peak around $0.28. The price history from April through October shows a decline into June, a recovery through August, and a September rally followed by a reversal.
Source: Santiment
Immediate support lies between $0.215 and $0.220. If that zone fails, the chart identifies $0.196 and $0.177 as lower price levels. Resistance stands near $0.233, followed by the 200-day moving average around $0.241.
ADA Momentum Weakens as Support Comes Into Focus
The 50-day moving average sits near $0.225 and has turned downward since the October peak. ADA is trading around or slightly below that average, while the 200-day average remains above the current price.
Trading volume increased during the September-October rally and subsequent reversal. However, recent volume appears lower than during those larger moves. Holding 0.215–0.220 could support consolidation toward $0.233, while a sustained move above $0.241 would provide stronger evidence of recovery.

Buyers reversed the earlier sell-off to bring XLM back in positive territory from a low near $0.172 on the day.
There is a falling wedge on the 4-hour chart that indicates a possible price rebound, but need to confirm the pattern breaking a descending resistance.
The $0.23 target depends on sustained buying, while a break below wedge support could expose XLM to further losses.
XLM is showing signs of recovery after a steep decline, while its falling wedge points toward a possible $0.23 target.
XLM Falling Wedge Draws Attention to $0.23
ALLINCRYPTO (@RealAllinCrypto) describes the four-hour chart as a textbook falling wedge. The analyst sees an opportunity for recovery as market fear persists. The proposed target stands near $0.23, although an upward breakout remains unconfirmed.
Source: X
The chart shows XLM rising from below $0.18 during mid-September. The rally reached approximately $0.23 near the end of September before losing momentum. Sellers then pushed prices lower, creating a sequence of declining highs and lows.
Two descending trendlines outline the narrowing price structure throughout October. The upper line is a resistance level, and the bottom line is a series of lows. Their convergence forms the pattern behind the potential recovery scenario.
The token trades near the lower boundary, where buyers could attempt to stop further losses. A sustained rebound would strengthen the bullish case if higher lows begin forming. However, continued weakness could keep prices within the declining structure.
Intraday Recovery Returns XLM to Positive Territory
The 24 hour chart depicts a big sell-off followed by a powerful recovery. XLM was initially trading around 0.177–0.178 before dropping in the morning. Selling continued into the afternoon, bringing the price close to $0.172.
Source: Coinmarketcap
The decline slowed near that low before buyers began pushing prices upward. A stronger advance later carried the token above $0.176. The chart then showed green price action as XLM approached $0.179.
Market data places the token at $0.1784, up approximately 0.2% over 24 hours. This daily gain follows a substantial intraday decline and subsequent recovery. The data indicates a market capitalization of approximately $6.28 billion.
The amount of trading rose by 8.52% in the past 24 hours. This increase mirrored the price action, including a quick fall and recovery. However, volume alone cannot establish whether buyers will maintain control.
Resistance and Support Will Determine the Next Move
The 0.178-0.179 range is immediate resistance after the intraday rebound. Strong action above recent highs may fuel another recovery push. However, repeated rejections here may result in trading sideways or further declines.
A descending upper trendline continues to be a major hurdle on the 4-hour chart. Purchasers will have to breach it and grasp the territory that it has recovered. A brief move through resistance would provide limited confirmation without follow-through.
The analyst's $0.23 target sits near the earlier trading range's upper boundary. The chart also marks resistance around $0.236, above that proposed target. Reaching either level would require a substantial recovery from current trading levels.
Support around $0.176 could become relevant if selling pressure returns. Below that area, the intraday low near $0.172 provides another reference point. Failure to break below the wedge's bottom boundary would make the bull market pattern weaker.
Immediate direction is determined by whether the buyers support and challenge the resistance that is descending. If the price could make it through the breakout level in an upward swing, it would confirm the recovery move. The forecast, that it will move to $0.23, is still pending and there is downside risk.

Michael van de Poppe identifies $8 as a potential AVAX buying level, warning that further correction could follow broader altcoin weakness.
Giannis Andreou sees 8.50–8.90 as critical support, with resistance at 10.00–10.50 shaping AVAX’s recovery prospects.
AVAX could target $15.20 if resistance breaks, but losing $8.50 may weaken the bullish outlook and expose lower support levels.
Avalanche (AVAX) faces competing price outlooks as analysts assess whether its recent recovery can withstand further selling pressure. Michael van de Poppe expects another correction and identifies $8 as a potential buying level. However, Giannis Andreou sees a possible move toward $15 if AVAX holds support, while the October 21 Binance chart shows the token trading at $9.743.
Analysts Identify Critical Support Levels for AVAX
Van de Poppe attributed altcoin market weakness to uncertainty across cryptocurrency markets. He said Bitcoin gaining momentum could restore strength across altcoins, while identifying $8 as a level where he would consider buying AVAX.
Andreou highlighted the 8.50–8.90 zone as important support following AVAX’s break above descending resistance. He identified $8.70 as a level that could support further gains if buyers defend the rising trendline.
https://twitter.com/gandreou007/status/2112476417896087669?s=20
However, a daily close below $8.50 would weaken Andreou’s bullish outlook and increase the risk of a deeper pullback. His analysis places the next recovery hurdles at 9.10–9.60 and 10.00–10.50.
AVAX Chart Shows Improving Short-Term Momentum
The four-hour Binance chart dated October 21, 2026, shows AVAX gaining $0.041, or 0.42%, to reach $9.743. The token had climbed from approximately $7.20 to above $11.50 in late September before entering an October downtrend.
Recent price action places immediate support at 9.50–9.60, with $9.00 below that zone. On the upside, resistance stands at $10.00 and 10.30–10.50, followed by $11.00.
The RSI reads 50.27, above its moving average of 44.54. Meanwhile, the MACD histogram stands at 0.035, with its line at -0.068 above the signal line at -0.103. Both MACD lines remain below zero despite the bullish crossover.
AVAX Price Targets Reach $15 if Resistance Breaks
Andreou identified 11.00–11.95 as the next target zone after AVAX clears $10.50. Further resistance sits at 12.50–13.20, followed by 14.50–15.20.
Source: TradingView
A rise from $8.70 to $15 would represent approximately 72% upside. However, the chart’s recovery remains vulnerable if AVAX loses $9.50 support, potentially exposing $9.00. Trading volume stands at 240.48K AVAX.

The Blockchain Association wants objective criteria for determining when tokens no longer qualify as investment contracts and protections for good-faith market participants.
The group proposes raising SEC fundraising limits to $10 million for startups and $150 million for fundraising exemptions.
The association seeks tailored crypto trading rules, stronger federal preemption, and clearer Treasury guidance on DeFi software and foreign stablecoins.
The Blockchain Association has asked the U.S. Securities and Exchange Commission (SEC) to revise proposed crypto rules covering token exemptions, fundraising and secondary-market trading. In its comment letter, the group urged clearer standards for determining when tokens move beyond investment contracts. It also called for stronger protections for market participants and fewer barriers for crypto startups.
https://twitter.com/BlockchainAssn/status/2112685080770400654?s=20
SEC Proposal Faces Calls for Clearer Token Standards
The association wants objective indicators for determining when an issuer’s essential managerial efforts have ended. These should include publicly available source code and no single party able to censor transactions or rewrite network rules.
Additionally, it argues that responsibility should follow control. Projects should answer for activities they control, while third-party applications and community activity should remain outside their responsibility. Exchanges and liquidity providers acting in good faith on project filings should also receive protection.
The group also proposed allowing trading platforms and other qualified third parties to file for tokens already issued. Such filings, it said, should not constitute an admission that a token previously qualified as a security.
Blockchain Association Seeks Higher Fundraising Limits
The association urged the SEC to raise the Startup Exemption limit to $10 million and the Fundraising Exemption limit to $150 million. It also wants airdrops and network rewards excluded from startup exemption calculations.
Furthermore, it proposed allowing onchain transparency to replace audited financial statements. On market access, the group called for stronger federal preemption to prevent conflicting state requirements.
Its proposal would cover qualifying tokens issued before the rules take effect and trading based on project filings. The association also urged the SEC to address intermediary registration, establish tailored rules for trading venues, and support 24-hour trading and self-custody.
Treasury Faces Separate Questions Over GENIUS Act Rules
Separately, the Blockchain Association asked the U.S. Treasury to clarify proposed GENIUS Act rules covering decentralized finance software, foreign stablecoin issuers and liability.
The group wants officials to distinguish customer-facing financial businesses from self-custody software and validators. It also argues that liability for unlawful stablecoin issuance should require actual knowledge and meaningful assistance, rather than ordinary secondary-market activity.
For foreign-issued stablecoins, the association favors requirements based on accessible regulatory information. Treasury has not adopted these requested changes, and the proposed rules remain subject to regulatory consideration.

Dogecoin’s 365-day MVRV is at 0.74 and XRP’s at 0.92, indicating average holders are sitting on unrealized losses.
The crypto market cap excluding the top 10 assets rebounds to $226.71 billion, with resistance at $230 billion and $235 billion.
RSI at 57.79 and a positive MACD histogram signal strengthening short-term momentum, though a sustained recovery remains unconfirmed.
Dogecoin (DOGE) and XRP are showing potential buying opportunities as their long-term holders face losses, according to Santiment Intelligence. Their 365-day Market Value to Realized Value (MVRV) readings stand at 0.74 and 0.92, respectively. Meanwhile, the cryptocurrency market capitalization excluding the top 10 assets has rebounded to $226.71 billion, although it remains below September highs.
DOGE and XRP Holders Face Unrealized Losses
Santiment reported that Dogecoin’s 365-day MVRV near 0.74 indicates holders are underwater on average. XRP’s reading of 0.92 also places its average holders in losses.
However, Santiment described these conditions as historically more favorable than periods when holders hold substantial profits. Lower MVRV readings can indicate reduced selling pressure as losses accumulate, while higher readings may point to increasing profit-taking risks.
Bitcoin (BTC), Ethereum (ETH) and Chainlink (LINK) show more neutral conditions. Their 365-day MVRV readings range from 0.97 to 1.04, suggesting average holders are near breakeven.
Santiment said traders can use MVRV to assess market positioning and potential risks alongside price movements. However, the metric does not establish whether prices will rise or fall.
Smaller-Cap Crypto Market Rebounds Toward $230B
The cryptocurrency market capitalization excluding the top 10 assets reached $226.71 billion on the four-hour chart dated October 21, 2026. The latest candle recorded a high of $226.93 billion, a low of $225.55 billion and volume of $14.46 billion.
The market climbed toward $255 billion in late September before falling below $240 billion in early October. It then reached approximately $213 billion to $217 billion during mid-October.
Source: TradingView
However, a rebound from around $219 billion to $220 billion has lifted the market capitalization. Immediate resistance is at $230 billion, followed by $235 billion and $240 billion. Support is near $220 billion, while the mid-October low provides a deeper support zone.
The RSI is at 57.79, above its 50.54 signal average and the neutral 50 level. Meanwhile, the MACD line at $548.44 million exceeds the signal line at negative $513.64 million. Its histogram remains positive at $1.06 billion, indicating stronger short-term buying momentum.

Ripple supports the SEC’s proposed Regulation Crypto Assets but opposes limiting Form TR filings to projects that are completed rather than abandoned.
Ripple seeks clearer rules on investment contracts, token classifications, and exemptions for secondary-market trading under the proposed SEC framework.
Ripple cites its $150 million legal battle with the SEC to highlight the financial costs of regulatory uncertainty surrounding XRP and crypto markets.
Ripple has urged the U.S. Securities and Exchange Commission (SEC) to finalize its proposed Regulation Crypto Assets, citing years of uncertainty over digital asset rules. In a comment letter filed with the agency, Chief Legal Officer Stuart Alderoty backed a framework grounded in existing securities laws. The company also called for changes to several provisions affecting token issuers and secondary-market trading.
https://twitter.com/s_alderoty/status/2112673463416795466?s=20
Ripple Challenges SEC Rules on Investment Contracts
Ripple argues that an investment contract, rather than the token itself, constitutes a security under the Supreme Court’s 1946 Howey test. Alderoty said the proposal follows that principle, emphasizing issuers’ actual promises and when those obligations end.
Under proposed Rule 400, issuers could file Form TR to certify that promised work has finished or been abandoned. However, Ripple opposes restricting this option to completed projects, arguing that abandoned work also ends buyers’ expectations of profits.
The company also rejects dividing tokens into “company-backed” and “network” categories. It warns that this approach could revive the SEC’s earlier reliance on implicit promises. Additionally, Ripple cited an example where automatically using 5% of sales to repurchase and burn tokens could create an investment contract.
Ripple Seeks Changes to Proposed Crypto Regulations
Ripple cited Sections 28 of the Securities Act and 36 of the Exchange Act as authority for exemptions covering classes of securities. According to its letter, the September 15 Senate vote that failed to advance the Digital Asset Market Clarity Act does not remove that authority.
The company also wants Rule 400 to clarify that skipping Form TR does not establish a presumption that a token involves an investment contract. Meanwhile, it seeks changes to Rule 500(b), which overrides state law for secondary-market trades but leaves registered dealers without a defined end date for exemptions.
XRP Lawsuit Highlights Financial Cost of Uncertainty
Ripple cited its legal dispute with the SEC, which sued the company in December 2020 over XRP sales. XRP fell roughly 70% within days, wiping out about $15 billion in market value as exchanges restricted or removed U.S. trading.
However, a July 2023 court ruling that XRP was not inherently a security added roughly $21 billion to its market capitalization. Coinbase and Kraken restored U.S. trading that day. Alderoty said Ripple spent more than $150 million obtaining legal clarity.
The letter also cited a National Cryptocurrency Association study estimating clearer rules could have supported 382 to 1,518 additional U.S. token offerings from 2022 through October 2026, attracting $325 million to $1.117 billion in capital.

XRP fell 6.06% from October 10 to 16, recording the largest weekly loss among six major cryptocurrencies.
Exchange outflows appeared frequently, while a positive netflow spike near $40 million emerged in October.
XRP traded at $1.29 in the supplied chart, down 0.73% daily as Bitcoin held up better.
XRP suffered its worst weekly performance among six major cryptocurrencies, falling as exchange activity and weaker performance against Bitcoin drew attention.
XRP Falls Behind Five Major Cryptocurrencies
According to Crypto Dyl News, XRP has declined by 6.06% from October 10 to October 16, 2026. Bitcoin fell 1.25%, Ethereum lost 2.60%, and BNB declined 2.83%. Solana traded -4.35% while Dogecoin was down -5.22% in the same time.
Source: X
Bitcoin's weekly decline was almost 5 percentage points less than the decline in XRP. Dogecoin came closest, losing 0.84 percentage points less than XRP. Among the six assets listed, XRP recorded the weakest weekly result.
The market chart for XRP revealed that it had dropped 0.73% over the previous 24-hour period to $1.29. It had a market cap of $81.77 billion and traded $1.16 billion a day. The displayed volume figure was down 22.72%.
The hourly comparison against Bitcoin showed XRP falling sharply around 4:00 PM. Its relative performance briefly dropped below minus 2%, followed by a partial rebound. Bitcoin recovered more firmly, leaving XRP below its performance line for much of the session.
Source: Coinmarketcap
Exchange Data Shows Repeated Outflows
The spot-flow chart shows the inflow and outflow of XRP per day from December through October. Red bars appear frequently, showing days when outflows exceeded incoming deposits. Some of the deepest negative readings occurred in January, with further withdrawals appearing over subsequent months.
Green bars mark days when exchange deposits exceeded withdrawals. These appeared at intervals throughout the chart, including January, March, May, August, September, and October. The largest visible October spike approached $40 million.
Exchange panels place Binance at $859.34 million, Upbit at $585.80 million and Coinbase at $478.99 million. The breakdown also includes Kraken, OKX, Bybit and other platforms. Opposing flow directions are identified in the selected views by the coloured blocks.
The figures shown on the two panels are not directly comparable because they are on different scales. Exchange transfers can reflect several activities, not simply plans to buy or sell. The flow data alone cannot establish what individual holders intend to do.
XRP Needs a Stronger Price Recovery
The orange price line shows XRP declining through much of the period. It approached $0.90 in August before climbing towards $1.50 later that month. Prices then moved unevenly around 1.30–1.50 before the latest weakness.
Repeated exchange outflows may reduce the amount of XRP readily available for trading. However, withdrawals do not prove that holders intend to retain their coins. The occasional inflow spikes also show that deposits continue despite the frequent negative readings.
XRP's weekly performance and its hourly comparison with Bitcoin both show relative weakness. A sustained price recovery would help establish whether buyers are returning. Until then, the recent losses remain the clearest evidence of its position against major peers.
Trading volume deserves attention after the reported 22.72% daily decline. Lower activity does not mean that prices will necessarily move in a negative direction. More volume with higher buying would give better proof of the resurgence of demand.
For now, XRP has recorded the largest weekly loss in the supplied comparison. Bitcoin's smaller decline and the mixed exchange-flow readings offer further context for the recent move. Whether XRP recovers or falls further will depend on subsequent trading, not the weekly figures alone.

New York and Wyoming will expedite eligible crypto licensing reviews within six months by coordinating examinations and sharing regulatory information.
The OCC has approved or conditionally approved at least 13 national trust charters for crypto firms, intensifying competition with state regulators.
The OCC expects final GENIUS Act rules covering stablecoin reserves, redemptions, risk management, and supervision before October ends.
New York and Wyoming have agreed to streamline crypto licensing and supervision, creating a joint process for digital asset firms operating in both states. The agreement covers Wyoming banking and trust charters, New York banking and trust charters, and New York’s BitLicense. Regulators will share examination information and coordinate reviews to reduce duplicated work.
https://twitter.com/EleanorTerrett/status/2112221834259124452?s=20
Joint Review Offers Faster Crypto Licensing
Under the agreement, firms with at least three years of clean regulatory history and substantially similar business models may qualify for expedited reviews. Regulators aim to decide eligible applications within six months.
New York introduced its BitLicense regime in 2015, while Wyoming established a framework for crypto-focused banks in 2019. Kraken relocated its global headquarters to Cheyenne last year, citing Wyoming’s crypto policies.
Wyoming Division of Banking Commissioner Jeremiah Bishop said the agreement demonstrates how state regulators can work together to improve supervision. Senator Cynthia Lummis, a Wyoming Republican, also welcomed the partnership on X.
However, the agreement does not change either state’s licensing requirements or automatically authorize firms to operate across both jurisdictions.
OCC Charters Create Competition for State Regulators
The agreement comes as the Office of the Comptroller of the Currency expands its crypto charter approvals. Since President Donald Trump took office, the OCC has approved or conditionally approved at least 13 national trust company charters for crypto firms, including Ripple, Circle, BitGo and Paxos.
According to Crypto In America, traditional banking groups have challenged this approach, arguing crypto firms do not face the same requirements and consumer protections as conventional banks. The Independent Community Bankers of America sued the OCC earlier this month over its charter decisions.
Meanwhile, Section 16(d) of the GENIUS Act allows certain state-chartered banks conducting stablecoin activities to provide custody and money transmission across state lines without separate state licenses. The proposed CLARITY Act would amend that provision, giving states greater control over financial institutions operating within their borders.
OCC Expects Stablecoin Rule Before October Ends
Comptroller Jonathan Gould said the OCC expects its final GENIUS Act rule before October ends. Speaking at a Milken Institute event during DC Fintech Week, Gould said the agency was nearing completion.
The rule covers stablecoin reserves, redemptions, risk management and supervision. The OCC issued its proposal in February and closed public comments in May.
The final rule missed the GENIUS Act’s July 18, 2026, deadline. The law is scheduled to take effect January 18, 2027, or 120 days after final implementing rules, whichever comes first.

The NCA wants transition periods allowing existing stablecoin holders to redeem, sell, or convert tokens when regulatory restrictions take effect.
The association urges clear rules enabling stolen stablecoins to be recovered and returned to victims under lawful orders.
The NCA calls for protections for self-custody and peer-to-peer transfers, citing consumer demand for greater transparency and regulatory clarity.
The National Cryptocurrency Association (NCA) has urged the U.S. Treasury to protect stablecoin holders as it develops regulations under the GENIUS Act. In its comments, the nonprofit called for transition periods when stablecoin legal status changes, clear routes for recovering stolen funds, and protections for self-custody and peer-to-peer transfers.
https://twitter.com/s_alderoty/status/2112322134081245298?s=20
NCA Seeks Transition Periods for Stablecoin Holders
The NCA said existing holders should retain time to redeem, sell, or convert stablecoins when regulatory changes restrict their availability. Its recommendations address the Act’s effective date, temporary waivers, state certification decisions, and the July 18, 2028, offer-and-sale deadline.
The association warned that holders could lose access if platforms stop supporting a stablecoin when a prohibition takes effect. It urged the Treasury to establish time-limited transition windows before restrictions begin, including when waivers expire or state certifications face denial or lapse.
During these periods, platforms should support transactions by existing holders without allowing new purchases. The NCA also asked the Treasury to clarify that redemptions, conversions, required notices, custody, and technical support would not automatically violate restrictions.
Stolen Funds and Lawful Orders
The NCA also addressed recovery of stolen stablecoins through lawful orders. Treasury’s proposal excludes transfers required by lawful orders from its definition of issuance and allows issuers to reissue stablecoins to comply with such orders.
The association wants the rules to leave no doubt that stolen funds can be recovered and returned to victims under lawful authority. Its submission focused on consumer protections rather than the technical details of issuer compliance.
Self-Custody and Consumer Trust
The NCA urged Treasury to protect self-custody and peer-to-peer transfers while establishing clear regulatory boundaries. It cited research showing that more than 67 million Americans hold cryptocurrency, while 87% of crypto holders use it for activities beyond ownership.
According to the association, 41% send money to family, while 40% use crypto for shopping and payments. It also reported that 49% of surveyed holders wanted greater transparency from crypto companies, and 39% sought stronger government oversight and regulatory clarity.
Stuart Alderoty, president of the National Cryptocurrency Association, said Treasury’s rules must prevent Americans from being stranded with stablecoins after regulatory changes. He also called for pathways to recover stolen funds and preserve the option to self-custody.