According to CoinDesk, a senior counsel at Consensys suggests that big banks are attempting to stifle innovation in the stablecoin sector. The argument posits that the banking industry's concern over stablecoin yield is primarily motivated by a desire to protect their existing market position rather than safeguard consumers. The development highlights the tension between traditional financial institutions and emerging decentralized finance (DeFi) technologies, particularly concerning stablecoins and their potential to disrupt established banking models.

According to CoinDesk, a senior counsel at Consensys suggests that big banks are attempting to stifle innovation in the stablecoin sector. The argument posits that the banking industry's concern over stablecoin yield is primarily motivated by a desire to protect their existing market position rather than safeguard consumers. The development highlights the tension between traditional financial institutions and emerging decentralized finance (DeFi) technologies, particularly concerning stablecoins and their potential to disrupt established banking models.