cryptojournalist
No More USDC Rewards in Europe
Coinbase will stop offering USDC rewards in the European Economic Area (EEA) on Dec. 1 due to EU regulations. Users can still earn yield until Nov. 30, but MiCA laws now ban interest on stablecoins.
User Reactions
Crypto users mocked the changes, with Paul Berg sarcastically thanking the EU for “protecting” him. Others criticized how regulations block consumer-friendly practices.
MiCA’s Impact on Crypto
The MiCA framework, active since June 2023, prohibits earning interest on stablecoins as part of stricter rules for crypto firms. Coinbase and Circle must comply fully by Dec. 30.
Shifts in the Stablecoin Market
Tether recently dropped its euro-backed stablecoin, blaming Europe’s regulations. At the same time, Schuman Financial plans to release a new euro-pegged token, EURØP, within weeks.
