U.S. House Passes Housing Bill Prohibiting CBDCs Until 2030
- Legislative Approval: The U.S. House passed the 21st Century ROAD to Housing Act with a significant margin of 358 to 32 votes, which not only aims to address housing affordability but also includes a temporary prohibition on central bank digital currencies (CBDCs), likely having a profound impact on the financial services sector.
- CBDC Ban: The legislation bars the Federal Reserve from directly or indirectly issuing or creating a CBDC or any “substantially similar” digital asset until December 31, 2030, which will influence financial institutions' product development and risk management by reducing regulatory uncertainty surrounding CBDCs.
- Stablecoin Exemption: The act incorporates a carve-out for certain dollar-denominated stablecoins, allowing for open, permissionless, and private stablecoins, indicating lawmakers' intent to avoid an outright ban on stablecoin functionality while still constraining central bank issuance, thus affecting market compliance and development.
- Compliance Implications: The passage of this bill signifies Congress's boundary-setting around central bank digital money, and while it primarily targets the Federal Reserve, it may also influence how other regulators interpret policies regarding payments, tokenized assets, and stablecoins, prompting financial institutions to plan for compliance in a multi-jurisdictional landscape.
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Technical Analysis for
Technical Sentiment Analysis for (). As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for 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 crypto.
Support, Resistance & Moving Averages. From a structural perspective, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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