More than 50,000 Europeans submitted comments to the European Commission’s MiCA review consultation, requesting that regulated stablecoins be allowed to offer rewards such as cashback and loyalty perks. This mobilization was orchestrated by the advocacy group Stand With Crypto EU, which states that a separate petition supporting a pro-innovation stablecoin strategy has collected over 126,000 signatures. However, on September 22, 2026, the European System of Central Banks, which includes the European Central Bank, proposed tightening rather than loosening existing rules. Their proposal would extend the current ban on interest-like payments to cover indirect yield, including mechanisms such as lending and staking. The ECB views e-money as a payment tool rather than a savings product.
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