How will Zstablecoins be regulated? The issue of control matters and you seem to overlook it. If you look at what’s going on with FTX, Binance, Tornado Cash, Apple, … , hardware wallet support for shielded ZEC, the real issue is control. Let’s start there before talking about a fee markets.
Why do you think the ZF is leaving the US?
Why do you think Coinbase is moving operations out the US?