EU Citizens Petition for Stablecoin Rewards Under MiCA Review

More than 50,000 supporters of the Stand With Crypto EU initiative have submitted letters to the European Commission during the MiCA review process. The petitioners are calling for a relaxation of rules that currently restrict regulated stablecoin issuers and platforms from offering rewards, interest, or incentives like cashback to users. Proponents argue that these restrictions place European users at a disadvantage compared to traditional banking products and could drive talent and companies to more competitive markets in the US or Asia. Conversely, European central banks have advocated for expanding the existing ban to include crypto lending and staking activities that generate indirect yields.