Major pushback brewing over stablecoin regulation. A top industry executive is drawing a hard line on the competition front, warning that banks are actively lobbying Congress to shut out stablecoins and fintech players. The accusation highlights a deeper tension: traditional finance doesn't want to lose ground to decentralized alternatives. Banks are using their political muscle to block competition, effectively trying to keep their monopoly on financial rails. For stablecoin projects and crypto platforms, it's becoming clear that the regulatory battleground isn't just about technical compliance—it's about whether Congress will let new financial infrastructure compete fairly or side with incumbents. The outcome could reshape how payment systems and digital assets operate in the U.S.