50,000 Europeans call on EU to ease stablecoin rewards restrictions in MiCA review

More than 50,000 Europeans have urged the European Commission to loosen restrictions on stablecoin rewards as part of its review of the bloc’s Markets in Crypto-Assets (MiCA) framework, according to crypto advocacy group Stand With Crypto EU.The campaign came as the Commission closed its MiCA review consultation on Wednesday, with Stand With Crypto EU pushing for regulated stablecoin providers to be allowed to offer incentives including cashback, loyalty benefits and fee reductions.The group said more than 50,000 supporters wrote to the Commission during the consultation, while more than 126,000 people have separately signed its petition calling for a more permissive EU approach to stablecoins.Stand With Crypto EU campaign vehicle outside the European Parliament in Brussels, Belgium. Source: Stand With Crypto EUMiCA prohibits issuers and crypto service providers from paying interest on stablecoins, a restriction Stand With Crypto argues puts the products at a disadvantage to bank deposits and other e-money products that can offer benefits to customers.Stand With Crypto said the campaign generated more than six times the 8,221 responses submitted to the European Central Bank’s (ECB)...