Question 1

What did the ECB ask the European Commission to do on stablecoins?

Accepted Answer

The European System of Central Banks, which includes the ECB, asked the Commission to keep MiCA's ban on paying stablecoin holders and widen it to cover indirect perks such as rewards and fee reductions, as well as crypto lending, borrowing and staking.

Question 2

Why are Circle and Aave opposing the central banks?

Accepted Answer

Circle wants MiCA's reserve rules relaxed and its perimeter widened, noting only three of the 25 largest stablecoins are MiCA-regulated, while Aave Labs argues lending and staking returns are fundamentally different from issuer-paid interest and should not fall under the ban.

Question 3

How many people backed the campaign against the ban?

Accepted Answer

Stand With Crypto EU said more than 50,000 EU citizens emailed the Commission asking for rewards to be allowed, and a separate petition collected over 126,600 signatures calling for the yield ban to be lifted where a stablecoin is backed by safe, interest-bearing assets.

ESCB

Circle, Aave and 50,000 Europeans push back as ECB seeks to extend yield ban to DeFi

One sharp brief.
Every day.

ESCB

Circle, Aave and 50,000 Europeans push back as ECB seeks to extend yield ban to DeFi

One sharp brief.Every day.

One sharp brief.
Every day.