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  "text": "Banks are fighting the stablecoin bill - and their argument is basically:\n\n'Protect our moat.'\n\nRob Nichols from the American Bankers Association is demanding \"immediate urgent\" action.\n\nHis real concern? Stablecoins competing with bank deposits.\n\nThe response from the administration: \"Hey, you should create a moat around our business\" is not a valid regulatory argument.\n\nThe people blocking stablecoin legislation don't care about consumers - they're worried about competition.\n\nFT @BitcoinJesusETH @LGDoucet",
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