MiCA obliga a Coinbase a poner fin al programa de ganancias del USDC en Europa
Coinbase dejará de recompensar a los titulares de USDC en el Espacio Económico Europeo (EEE) a partir del 1 de diciembre debido a una próxima regulación MiCA (Mercados de Criptoactivos). Los titulares de USDC del EEE tendrán hasta el 30 de noviembre para obtener sus recompensas finales en el programa, y sus cuotas se pagarán durante los primeros diez días hábiles de diciembre.
El programa Coinbase Earn, que está disponible para usuarios en más de 100 jurisdicciones, genera rendimientos basados en las tenencias de USDC de los usuarios en el intercambio. El APY (rendimiento porcentual anual) varía según la ubicación. Según un correo electrónico enviado por el equipo de Coinbase a sus usuarios el 28 de noviembre, MiCA estaba introduciendo nuevas regulaciones para los tokens de dinero electrónico (o monedas estables).
Coinbase se ajusta a las nuevas reglas de MiCA y suspende las recompensas del USDC en Europa
Europa "protege" a sus ciudadanos asegurándose de que no puedan obtener rendimiento de sus monedas estables a través de @coinbase 🤡 pic.twitter.com/ExTiNOjB3j
- 0xLouisT (@0xLouisT) 28 de noviembre de 2024
Coinbase will be ‘sunsetting’ the USDC earn program for EEA customers from the 1st of December due to compliance with upcoming MiCA regulations labeling stablecoins as E-money tokens. The new MiCA regulations introduce stricter rules for stablecoins, forcing exchanges to delist or remove non-compliant tokens. Coinbase confirmed that EEA users had until the 30th of November in the USDC earn program, and their final payments would be distributed within the first ten days of December.
MiCA’s establishment of a single regulatory environment for digital assets in the Eurozone comes with huge changes in the crypto market. Coinbase’s announcement in October revealed that it would remove all non-compliant stablecoins in MiCA-regulated regions in line with the agency’s requirements. Paul Berg, the co-founder and CEO of Sablier, sarcastically thanked the EU for ‘protecting’ him against earning a yield on his USDC holdings in Coinbase. “I’m very grateful,” he taunted.
The MiCA framework sought to increase stability and transparency in the European crypto market, and exchanges like Coinbase were already taking action to comply with the upcoming regulations.
MiCA rules force crypto exchanges to adapt or exit the EEA
According to Tether CEO Paolo Ardoino, MiCA regulations for stablecoins have forced exchanges operating in the EEA to adapt to the fast-changing environment or exit. Ardoino recently said Tether would turn its focus to other initiatives until the EU introduced a more ‘risk-averse’ regulatory framework. He pointed out that MiCA represented ‘potential banking systemic risks.’ Tether said it was refocusing its resources on the development of MiCA-compliant tokens like the USDQ and EURQ. Tether invested in the Dutch fintech Quantoz on November 18th to boost the development of both tokens.
Bitstamp also delisted Tether’s Euro-pegged stablecoin EURt for non-compliance with MiCA requirements. The exchange further confirmed it would not list any tokens that failed to meet MiCA’s E-money tokens (EMT) regulatory requirements. Notably, Bitstamp did not delist EMTs that were not Euro-pegged and not within MiCA regulations. It just limited their availability to European customers.
Binance implemented a phased approach to ensure that its stablecoin offerings aligned with MiCA regulations in Europe. According to Binance, the transitional measures aimed at allowing its EEA customers to switch to regulated stablecoins without any market disruptions. Binance announced that it would implement restrictions across its entire product range to prevent users from accessing products and services involving stablecoins that are not compliant with MiCA rules.
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