More Than 126,000 People Have Signed a Petition to Ease EU Rules for Stablecoins

• The Stand With Crypto EU petition to the European Commission has collected more than 126,000 signatures.
• The organization is calling for regulated stablecoins to be allowed to offer users rewards and to preserve access to global assets.
• Stand With Crypto also advocates for the development of euro-denominated stablecoins and their use as a settlement asset and collateral in capital markets.

More than 126,000 people have signed the Stand With Crypto EU petition to the European Commission calling for a change in the EU’s approach to stablecoin regulation. 

The organization is urging a review of the restrictions set by the European MiCA regulation. In particular, Stand With Crypto proposes:

• allow Earn programs for stablecoins, provided the yield is backed by safe interest-bearing assets
• preserve access to global stablecoins that meet transparency and reserve requirements
• recognize stablecoins as settlement assets and eligible collateral in capital markets
• support the development of euro-denominated stablecoins
• support the use of stablecoins as infrastructure for faster, cheaper, and programmable cross-border payments.

Stand With Crypto believes that MiCA’s current yield restrictions could limit user choice and fragment liquidity. The organization also stresses that the development of private stablecoins should complement the EU’s work on a digital euro, not replace it.

Europe and euro stablecoins

Harry Pearce Gould, general manager of Stand With Crypto EU, told Cointelegraph that the organization is urging the European Commission to use the MiCA review to allow regulated stablecoins to offer rewards to holders.

He said the US has already chosen stablecoins as the settlement layer for tokenization, and while Europe does not necessarily need to copy the American approach, it does need to compete with it.

Pearce Gould also believes that the ability to accrue rewards could help euro stablecoins see broader adoption and compete with assets pegged to the US dollar. He emphasized the importance of such assets for the euro’s international role and the EU’s payments sovereignty.

Separately, Stand With Crypto EU reported that more than 50,000 Europeans have appealed to the European Commission to ease restrictions on stablecoin rewards during consultations on the MiCA review. Among the proposed incentives, the organization cited cashback, loyalty programs, and lower fees.

As a reminder, earlier the European Central Bank and the national central banks of EU countries proposed revisiting MiCA’s requirements for stablecoin reserves.

Сообщение More Than 126,000 People Have Signed a Petition to Ease EU Rules for Stablecoins появились сначала на INCRYPTED.