Europeans Call for Changes to Stablecoin Rules Amid MiCA Review

Over 50,000 European residents have called on the European Commission to ease restrictions on rewards for stablecoin holders during the review of stablecoin regulations under MiCA. This was reported by Cointelegraph, citing Harry Pierce Gould, head of Stand With Crypto EU.

The organization is advocating for regulated stablecoin providers to offer incentives such as cashback, loyalty programs, and reduced fees to users. 'We urge the European Commission to use the MiCA review to allow regulated stablecoins to offer rewards to holders,' said Pierce Gould.

A separate petition by Stand With Crypto EU for a more favorable regime for stablecoins gathered over 126,000 signatures. The organization proposes allowing holders to receive income from reserve assets, maintaining access to global stablecoins with transparency and reserve requirements, and supporting euro-denominated stablecoins.