The United States National Credit Union Administration (NCUA) has proposed its first regulatory framework under the GENIUS Act, outlining how federally insured credit unions can issue payment stablecoins. This move is seen as a significant step toward integrating cryptocurrency into the traditional banking system, which serves approximately 144 million Americans.
The proposed rules would require any subsidiary of an insured credit union to obtain an NCUA-permitted payment stablecoin issuer (PPSI) license before issuing coins. The framework establishes standards for reserves, capital, and liquidity to ensure stability. This regulatory clarity could allow credit unions to compete directly with private stablecoin issuers like Tether and Circle.
Concurrently, market commentary highlights shifting narratives around major assets. Analysis from Grayscale suggests Bitcoin's short-term price action is increasingly correlating with high-beta growth tech stocks rather than its traditional "digital gold" narrative, a trend accelerated by new institutional flows via ETFs.
Amid this regulatory and market development, promotional focus is placed on the DeepSnitch AI ($DSNT) presale. The project has reportedly raised over $1.6 million, offering AI-powered analytics tools like SnitchScan and AuditSnitch to presale participants. Promotional claims suggest a $4,500 investment could yield significant returns, bolstered by bonus token schemes for large allocations.
Other assets mentioned include Bitcoin Hyper (a Layer-2 project), Ethereum (ETH), which is noted as struggling to hold above $2,000, and Zcash (ZEC), which saw a 20% relief rally. Render (RNDR) is noted as underperforming, with an 8% weekly decline.
