Banks Push to Limit Crypto Rewards on Stablecoins to Protect Deposits
- Increased Regulatory Pressure: The American Bankers Association and Independent Community Bankers of America are lobbying Congress to limit crypto rewards on stablecoins, claiming this could jeopardize traditional bank deposit structures, thereby impacting banks' profits and market competitiveness.
- Consumer Choices Limited: This initiative could restrict consumer access to higher-yield digital dollar options, which, while safeguarding banks' income, may reduce interest options for consumers holding stablecoins, affecting their investment returns.
- Challenges to Stablecoin Regulation: The current lobbying intensifies scrutiny on future stablecoin regulations, posing potential challenges to the evolution of digital financial products and traditional banking revenue streams, which could stifle market innovation.
- Far-reaching Policy Implications: The GENIUS Act already restricts interest on stablecoins, and the ongoing lobbying is viewed as a continuation of this regulatory struggle, potentially further constraining consumer and market innovation in the crypto sector.
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Technical Analysis for DEFI
Technical Sentiment Analysis for DeFi (DEFI) As of , DeFi (DEFI) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DEFI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, DEFI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
DeFi (DEFI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000197 | 0.000246 | 0.000294 | 0.000343 | 0.000391 | 0.00044 | 0.000488 |
| Fibonacci | 0.000246 | 0.000283 | 0.000306 | 0.000343 | 0.00038 | 0.000403 | 0.00044 |
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