Europeans Demand Stablecoin Rewards Amid Ongoing MiCA Review

Over 50,000 Europeans have signed letters to the European Commission as part of a public consultation on stablecoin regulations. The campaign, organized by advocacy group Stand With Crypto EU, aims to loosen rules that currently prohibit stablecoin issuers from offering rewards to users.

Under the current Markets in Crypto-Assets Regulation (MiCA), companies that issue stablecoins cannot pay interest or offer cashback and loyalty points to holders. This rule is seen as putting stablecoins at a disadvantage compared to traditional bank accounts and e-money products, which can still offer such rewards.

Stand With Crypto EU wants the Commission to change this during its MiCA review, allowing regulated stablecoin providers to offer cashback, loyalty benefits, and fee reductions under clear rules. The group claims that the response to their campaign shows real demand from everyday users for more freedom in using stablecoins.