EU Stablecoin Petition Hits 126k Signatures Amid MiCA Review

Over 126,000 people have signed a petition to ease EU rules for stablecoins, which are tied to traditional currencies and used in digital wallets. The Stand With Crypto EU petition calls for regulated stablecoins to be allowed to offer users rewards and preserve access to global assets.

The organization is advocating for the development of euro-denominated stablecoins that can serve as a settlement asset and collateral in capital markets. They also propose allowing Earn programs for stablecoins, provided the yield is backed by safe interest-bearing assets.

Stand With Crypto believes that the current restrictions set by the European MiCA regulation could limit user choice and fragment liquidity. The organization stresses that the development of private stablecoins should complement the EU's work on a digital euro, not replace it.