Stablecoins with built-in yield are reshaping the financial landscape, positioning themselves as a credible alternative to traditional savings accounts. Their ability to offer returns while maintaining price stability makes them increasingly attractive to retail and institutional users seeking better capital efficiency. However, this disruption has caught the attention of regulators and policymakers worldwide. Many are viewing yield-bearing stablecoins with caution, with some pushing for stricter oversight or outright restrictions. The tension is clear: as these DeFi instruments gain traction and challenge conventional banking products, authorities see potential risks in unregulated financial instruments that could bypass traditional banking channels. This regulatory pushback reflects deeper concerns about systemic stability and consumer protection, making the future of stablecoin adoption heavily dependent on how this policy debate unfolds.