Consensys lawyer says stablecoin yield fight protects banks, not consumers

Bill Hughes, Senior Counsel and Director of Global Regulatory Matters for Consensys, argues that the ongoing fight over stablecoin yield is less about protecting consumers and more about protecting banking incumbents.

Hughes frames the dispute as an attempt by big banks to freeze innovation, saying that efforts to block yield on stablecoins serve incumbent interests rather than consumer safety.

The piece presents this as an opinion; it asserts that history shows such attempts are a mistake. The article does not detail how regulators or banks will respond to that argument.

Key Topics

Crypto, Bill Hughes, Consensys, Stablecoin Yield, Banking Incumbents, Consumer Protection