A major financial institution's chief financial officer has raised alarms about cryptocurrency platforms offering stablecoin yields, warning that these operations are essentially constructing an unregulated banking infrastructure. The concern centers on stablecoins generating returns without the protective frameworks traditionally governing financial institutions. Regulators and lawmakers are intensifying their focus on this space, debating whether new restrictions are necessary to prevent systemic risks. The debate highlights growing tensions between decentralized finance innovation and traditional financial system safeguards.