US Banks Are Delaying the Genius Act: Agora and ALT

May 2, 2026, 12:574 min read

US Banks' Request to Delay Genius Act

Major US banks have requested an extension of the public comment period to prevent the Genius Act from fully entering into force. While banking lobbies ask regulators to slow down the process, crypto players like Agora are taking decisive steps. This tension is deepening the rivalry between Wall Street and the crypto world in stablecoin regulations. Banks argue that the law threatens their own deposit models.

Agora CEO Nick van Eck's Comments

Agora CEO Nick van Eck described the banks' stance as an "expected reaction" and counted the law among turning points in banking history. Van Eck predicts that banks will engage in similar delay efforts over the next year to assess impacts on their business models. This will be a process that tests the competitive strength of stablecoin issuers.

Banks' Deposit Fears and Stablecoin Yields

The struggle focuses on deposit flows and yield mechanisms. Van Eck emphasizes that banks' main fear is the erosion of deposits due to stablecoin issuers directly passing yields to users. Traditional institutions thrive on the spread between near-zero deposit interest rates and high yields at the Federal Reserve. This spread is being eroded by stablecoins' 4-5% yield promises.

Agora's OCC Trust Bank Application

Agora submitted a national trust bank charter application to the OCC last week to enter the competition and aims to receive approval by year-end. This permission will open the door to issuing stablecoins under federal oversight, eliminating high fees in fiat-crypto conversions. While other banking groups weigh the risks, Agora is preparing to deploy its innovative infrastructure.

Genius Act's Impacts on the Stablecoin Sector

The Genius Act forces stablecoin issuers to operate at bank standards, making sector entry more difficult. Van Eck argues that the federal framework will trigger innovations and strengthen the dollar's global use. This law could determine whether crypto firms or established banks dominate the digital dollar infrastructure. The regulation will mature the sector by enhancing risk management and transparency.

ALT Token and Market Reaction: Technical Analysis

Stablecoin regulations are affecting ecosystem tokens. ALT (AltLayer) is moving sideways at the $0.01 level according to the ALT detailed analysis page. 24h change +0.53%, RSI 54.43 (neutral). Supertrend bearish, EMA 20: $0.0074. News flow may create opportunities for those following ALT futures on ALT futures.

ALT Support and Resistance Levels

Level	Price	Score	Distance	Sources
S1	$0.0074	89/100 ⭐ STRONG	-2.63%	Fibo 0.236, S2, Fibo 0.214, Ichimoku Senkou B
S2	$0.0071	75/100 ⭐ STRONG	-6.58%	SMA 50, LVN 3, F
R1	$0.0077	69/100 ⭐ STRONG	+1.32%	R1, Prev Day High, HVN 4, R2
R2	$0.0084	69/100 ⭐ STRONG	+10.53%	Fibo 0.382, EMA 100, BB Upper, L

ALT investors should closely monitor the Genius Act delay; strong S1 support is critical for breakout.