>> So what are stablecoins really trying to do? Circumvent regulation? Implement something the banks just aren't willing to do themselves?

yeah and this is great. I couldn't care less for banks protection.

Revolut blocked my account with 8k on it for 8 months, though their app said it will be max 2 weeks.

Customer support ignored me for 6 months until I said I am going to court.

So yeah fuck them. The is a case for banks but there is also a case for me keeping a chunk of my money in stable coins so its actually mine.

Edit: and to clarify I didn't do anything illegal, after I threatened them they completed their whatever they did and unlocked my funds that have been locked for 8 month.

And guess what - no consequences for them leaving me at that time without my safety net.