U.S. Banks Lobby Congress to Restrict Stablecoin Rewards, Safeguarding $360 Billion Revenue Stream
- Revenue Protection: The American Bankers Association, along with 52 state banking associations, has urged Congress to tighten restrictions on stablecoin rewards to safeguard over $360 billion in annual revenue streams primarily derived from payments and deposits, warning that failure to do so could impose a hidden tax of approximately $1,400 per year on households.
- Fee Sources: Banks generate substantial income from routine consumer activities, with around $187 billion coming from interchange fees paid by merchants for credit card transactions, where although some costs are returned to customers as rewards, merchants typically pass these costs onto consumers through higher prices.
- Regulatory Challenge: Crypto platforms currently offer rewards through affiliate or loyalty programs, and banks are seeking Congress to clarify in upcoming market-structure legislation that these rewards should be explicitly classified as prohibited yields to prevent further competition with regulated financial institutions.
- Industry Opposition: Crypto firms like Coinbase strongly oppose the move, arguing that banning rewards would entrench existing banking margins rather than protect consumers, and they warn that limiting innovation in the U.S. could drive capital and development to jurisdictions where digital currencies can offer yields.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE) As of , (STABLE) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 5 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.00245 | 0.00654 | 0.0147 | 0.0237 | 0.0319 | 0.0409 | 0.0491 |
| Fibonacci | 0.00654 | 0.0131 | 0.0172 | 0.0237 | 0.0303 | 0.0343 | 0.0409 |
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