126,000 Signatures Urge EU to Ease Stablecoin Rules for Rewards and Global Access

More than 126,000 people have signed a petition to ease EU rules for stablecoins, calling for regulated stablecoins to be allowed to offer users rewards and preserve access to global assets. The Stand With Crypto EU petition to the European Commission urges a review of the restrictions set by the European MiCA regulation. The organization is specifically advocating for the development of euro-denominated stablecoins and their use as a settlement asset and collateral in capital markets.

Stand With Crypto also believes that the current yield restrictions in MiCA could limit user choice and fragment liquidity. The organization emphasizes that the development of private stablecoins should complement the EU's work on a digital euro, not replace it. Harry Pearce Gould, general manager of Stand With Crypto EU, told Cointelegraph that the organization is urging the European Commission to allow regulated stablecoins to offer rewards to holders.

More than 50,000 Europeans have appealed to the European Commission to ease restrictions on stablecoin rewards during consultations on the MiCA review. Stand With Crypto EU cited cashback, loyalty programs, and lower fees as potential incentives. Earlier, the European Central Bank and the national central banks of EU countries proposed revisiting MiCA's requirements for stablecoin reserves.