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Stand With Crypto EU submits 50,000 letters urging EU to allow stablecoin rewards

More than 50,000 Europeans have urged the European Commission to allow stablecoin rewards as part of the MiCA review consultation, according to advocacy group Stand With Crypto EU.

European Union flags flying on flagpoles against a blue sky outside an EU building
Image: @CoinMarketCap

Stand With Crypto EU announced that more than 50,000 Europeans wrote to the European Commission as the review consultation for the Markets in Crypto-Assets regulation closed. The campaign urged Brussels officials to rethink restrictions and allow regulated stablecoins to offer incentives such as cashback and loyalty perks.[1][2][3]

The public feedback comes as European Union central banks push for broader modifications to MiCA's stablecoin framework. According to investor and commentator Lark Davis, the European Central Bank and other EU central banks are advocating to retain the existing interest ban and extend it across lending, staking, and indirect rewards to prevent stablecoins from functioning as yield-bearing savings products.[2][3]

Key facts

  • Stand With Crypto EU organized a campaign that saw more than 50,000 Europeans write to the European Commission regarding the MiCA review.
  • The submissions urge regulators to allow regulated stablecoins to offer reward programs such as cashback and loyalty perks.
  • EU central banks, including the European Central Bank, are seeking broader changes to MiCA rules by pushing to maintain the interest ban and extend it to lending, staking, and indirect rewards.

Sources 路 3 sources

  1. CO

    CoinMarketCap@CoinMarketCapPost on X 路

    LATEST: 馃嚜馃嚭 Stand With Crypto EU says more than 50,000 Europeans wrote to the European Commission urging it to allow stablecoin rewards as the MiCA review consultation closed. https://t.co/uKnQmcvBjy

    Open source
  2. LD

    Lark Davis@LarkDavisPost on X 路

    50,000+ Europeans just submitted comments in the EU鈥檚 MiCA review, urging Brussels to let regulated stablecoins offer rewards like cashback and loyalty perks. The campaign was run by Stand With Crypto EU. The ECB and the other EU central banks are pushing the other way: keep the interest ban and extend it to lending, staking, and indirect rewards so stablecoins cannot become yield-bearing savings products. Nothing scares TradFi quite like a digital currency that pays its users instead of charging them a monthly fee.

    Open source
  3. CT

    Coin TelegraphArticle 路

    50,000 Europeans call on EU to ease stablecoin rewards restrictions in MiCA review A 50,000-letter campaign is pressing Brussels to rethink stablecoin rewards as EU central banks seek broader changes to MiCA鈥檚 stablecoin rules.

    Open source