Some Coinbase users are airing frustrations at the region’s MiCA laws, which are forcing the exchange to stop offering yields on USDC in the European Economic Area.
Coinbase users in Europe shared frustrations over the region’s crypto regulations after the exchange said it is ending its yield offering on the dollar-pegged stablecoin USD Coin (USDC) for some users.
In a Nov. 28 email that multiple recipients posted on X, Coinbase said due to the European Union’s Markets in Crypto-Assets (MiCA) laws for stablecoins, it “will be sunsetting the USDC rewards program” on Dec. 1.
The change will affect customers in the European Economic Area (EEA), a 30-nation bloc that includes all 27 EU member states along with Iceland, Norway and Liechtenstein. The email said those eligible will still accrue rewards for the next two days until Nov. 30.
