Eco CEO Says U.S. Senate Stablecoin Yield Ban Favors Banks and Threatens DeFi Expansion

Eco CEO Ryne Saxe argues that the U.S. Senate's proposed ban on passive yield for stablecoin holders would strengthen traditional banks while limiting the growth of DeFi applications. He warns that such restrictions could push U.S. users toward offshore or fully on-chain services, shift regulatory pressure onto crypto frontends, and encourage issuers to design activity-based rewards that closely resemble yield in practice.