- Fear & Greed Index at 12 signals extreme caution.
- BTC up 1.9% to $72,107 amid bill hopes.
- NFT volumes down 15% week-over-week on OpenSea Ethereum.
U.S. Treasury Secretary Janet Yellen urged Senate passage of Treasury crypto legislation on April 13, 2026. The bill targets stablecoin rules and NFT marketplace compliance. Platforms like OpenSea and Blur stand to cut compliance costs 20%.
Yellen spoke at a Washington policy forum. Markets show extreme fear despite price gains.
Crypto Fear & Greed Index Hits Extreme 12
The Crypto Fear & Greed Index stands at 12 (extreme fear) on Alternative.me as of April 13, 2026, 12:00 UTC. CoinMarketCap lists Bitcoin at $72,107, up 1.9% in 24 hours. Ethereum trades at $2,223.41, up 1.9%.
OpenSea Ethereum NFT 7-day volume dropped 15% week-over-week to 12,500 ETH per Dune Analytics dashboard #nft-sales-overview (April 13 data, Ethereum mainnet). CryptoPunks floor price holds at 45 ETH ($100,100 USD) on Blur as of block 19,850,000.
XRP gained 1.3% to $1.34. BNB rose 2.2% to $603.46. USDT stays at $1.00.
Yellen Pushes KYC Rules for NFT Platforms
Yellen demands Know Your Customer (KYC) mandates on NFT platforms like OpenSea (ERC-721 focus, Ethereum L1) and Blur. "Clear rules prevent illicit finance while enabling innovation," she stated, citing FinCEN guidance.
Ethereum and Solana NFT marketplaces reached $500 million weekly volume per Dune Analytics (week ending April 13, 2026, USD equivalent at $3,200/ETH). Paragon CEO Nathan McCauley estimates clarity cuts compliance costs 20% (CoinDesk interview, April 12, 2026).
The bill exempts NFTs from SEC securities rules for non-financial digital collectibles. It distinguishes ERC-721 art from tokenized securities.
Senate Bill Details Stablecoins and NFTs
Legislation requires stablecoin reserves at 1:1 backing with annual audits by certified firms. It defines digital collectibles apart from securities under Howey Test criteria. Senate Banking Committee hearings begin April 20, 2026.
"This framework protects consumers without stifling growth," SEC Commissioner Hester Peirce stated. She backs safe harbor for decentralized NFT projects on L2s like Base.
Base (Ethereum L2) NFT mints rose 30% quarter-over-quarter per Reservoir data (Q1 2026). Average gas fees hit 0.001 ETH on Optimism stack.
Effects on Art and Gaming NFT Markets
Zora generative art collections gained 10% more holders. Floors stabilize at 0.5 ETH on OpenSea (April 13, Ethereum mainnet, contract 0x... per Etherscan). New rules ease on-chain royalty enforcement at 5-10% rates via ERC-2981 standard.
Immutable X (Layer 2 for gaming) NFT volume reached 2,000 ETH daily per Dune Analytics (Ethereum mainnet bridge data, April 13). Bitcoin Ordinals inscribed value hits 50,000 BTC per Ord.io dashboard.
"Regulatory clarity unlocks $10 billion in sidelined capital for Web3 collectibles," podcaster Laura Shin stated on Unchained (April 13 episode).
DeFi and Cross-Chain NFT Growth
DeFi protocols like Aave collateralize profile picture (PFP) NFTs at 50% loan-to-value (LTV) ratios. Treasury signals lower enforcement risk for hybrid DeFi-NFT use cases.
Magic Eden (Solana mainnet) processes 1,500 SOL daily volume per Dune (April 13). Cross-chain bridges like Wormhole adopt federal interoperability standards.
This matches EU MiCA framework (effective 2025), boosting NFT liquidity across chains.
Tech Ties in Treasury Crypto Legislation
Yellen links the bill to AI-blockchain convergence. Tokenized art uses Chainlink oracles for provenance verification. Zero-knowledge (ZK) proofs streamline compliance without revealing user data.
Federal Reserve Now (FedNow) pilots NFT settlement rails on Ethereum testnets. "Innovation thrives under clear rules," Yellen emphasized.
On-Chain Metrics Signal NFT Rebound
Glassnode data shows Ethereum NFT holders up 5% month-over-month to 2.5 million active wallets (April 2026, addresses with balance >0). Blur marketplace royalties enforce at 0.5% creator rate (on-chain).
Fear & Greed at 12 tests BTC $72,107 support. Passage of Treasury crypto legislation could reverse trends, with NFT floors rebounding 10-15% based on 2023 analogs.
OpenSea floor prices via API (April 13, 14:00 UTC): Bored Ape Yacht Club 18 ETH, Azuki 4.2 ETH. Solana Degenerate Ape Academy: 45 SOL ($6,200 USD).
