US Lawmakers Call for Permanent CBDC Ban
- Legislative Proposal Background: A pair of Republican lawmakers are advocating for a permanent ban on US central bank digital currency (CBDC) to be included in the 21st Century ROAD to Housing Act, which is expected to be voted on in the House this week, indicating strong opposition to CBDCs.
- Bill Content Overview: The bill, released by the US Senate Committee on Banking, Housing, and Urban Affairs in March, not only revises federal housing programs but also includes a clause prohibiting the Federal Reserve from issuing a CBDC or similar instruments until December 31, 2030, reflecting concerns over financial privacy and potential government corruption.
- Reasons Against CBDC: Representative Warren Davidson emphasized that CBDCs could infringe on privacy and open new avenues for government corruption, advocating for a permanent ban to prevent potential misuse of CBDCs.
- Other Related Bills: The Anti-CBDC Surveillance State Act, proposed by House Majority Whip Tom Emmer, passed the House on July 17 but has yet to receive full Senate approval, highlighting the ongoing divisions and debates within Congress regarding CBDCs.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK 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, BANK 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 $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00644 | 0.0143 | 0.0237 | 0.0316 | 0.041 | 0.0489 | 0.0583 |
| Fibonacci | 0.0143 | 0.0209 | 0.025 | 0.0316 | 0.0382 | 0.0423 | 0.0489 |
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