Coinbase will stop its USDC Rewards program for customers in the European Economic Area (EEA) from December 1, 2024. This is because of new rules in the European Union called Markets in Crypto-Assets (MiCA). MiCA says that stablecoins, like USDC, are electronic money tokens (EMTs), and these cannot have interest-earning features.
Coinbase will give their customers their last payments in the first ten business days of December. Some people are not happy about these changes, but Coinbase will help them switch to other stablecoins that follow the new rules. Another company called Tether also said they will stop making euro-backed tokens because of the new rules in Europe.
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<p>The post Coinbase halts USDC Rewards in EEA due to MiCA regulations. first appeared on CoinBuzzFeed.</p>
