European crypto asset advocacy group Stand With Crypto EU claims more than 50,000 people emailed the European Commission asking it to allow various stablecoin perks that European central banks asked last week to remain banned.
50,000 Europeans Reportedly Collide With EU Central Banks Over Stablecoins
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Key Takeaways
- More than 50,000 EU citizens reportedly emailed the European Commission over stablecoin rewards and perks.
- Over 126,600 people signed a separate petition calling for broader changes to MiCA’s stablecoin rules.
- EU central banks want MiCA’s ban on stablecoin rewards to remain and cover indirect incentives.
Stand With Crypto EU (SWC) said the emails were sent to the European Commission (EC) during the Commission’s review of MiCA, the EU’s crypto asset market rulebook. The emails ask the EC to allow regulated stablecoins to offer rewards to holders and let crypto platforms offer perks such as cashback, loyalty benefits and fee reductions because “people who choose a regulated stablecoin should not get fewer benefits than they would from a bank or other e-money payment product.” SWC noted that only EU citizens were allowed to send these emails.
126,600+ Signatures Call for Even More
According to the crypto asset advocacy group, which counts Boerse Stuttgart Digital, 50 Partners, IOTA, Morpho and others among its partners, the emails were “part of a separate campaign” and were sent “to align with today’s closing of the MiCA review.” The Commission’s consultation closed last night.
Meanwhile, more than 126,600 people signed a separate petition calling for measures beyond those requested in the emails, including lifting “MiCA’s ban on passing through yield when backed by safe, interest-bearing assets.”
“When Europe’s rules make stablecoin products less competitive than those in the US or Asia, the best teams and the talent they hire will follow the markets where they can compete. The MiCA review is a chance to keep them here,” Pierre-Andréa Bozicas, principal at 50 Partners, a partner of Stand With Crypto EU, said in the press release. In the U.S., the 2025 GENIUS Act banned U.S. stablecoin issuers from paying interest but allowed exchanges to offer rewards.
Different Agenda of Central Banks
EU central banks, including the European Central Bank (ECB), which oversees monetary policy in the euro zone, have a different agenda. Last week, the central banks sent their suggestions on how MiCA could be changed, including its stablecoin regulations. The document says MiCA’s ban on paying stablecoin holders should remain and should also cover indirect perks, such as rewards, fee reductions and some loyalty benefits. What’s more, the central banks asked regulators to deal with various workarounds and extend the ban beyond services MiCA regulates, such as crypto asset borrowing, lending and staking.
The ECB and other central banks argue that “electronic money is intended to be used for making payments and not as a means of saving.”
The same documents suggest ditching the MiCA rule that obliges stablecoin issuers to hold at least 30% of reserves as bank deposits, or 60% for large “significant” stablecoins. According to the banks, this rule “reduces issuers’ profitability, given the limited yield on (sight) deposits.”
Changes Expected in 2027
Currently, MiCA treats single-currency stablecoins as “e-money tokens” and doesn’t allow stablecoin issuers and crypto platforms to pay holders interest. That is why some popular crypto asset reward programs shut down in the EU.
While the emails might have reached officials, it’s not clear whether they’ll be counted in the Commission’s official tally of responses. However, the central banks’ recommendations are also only recommendations, and the final call is the Commission’s. In August 2026, Euronews reported that the EU will revise its crypto rules in 2027.
