European Coinbase users have expressed their disappointment over the announcement that the crypto exchange will end interest returns for certain users on the dollar-linked USD coin. The change, which affects customers in the European Economic Area (EEA), is a result of the EU’s MiCA (Markets in Crypto-Assets) regulation that also applies to stablecoins.

The USDC interest payment program will cease on December 1st due to this regulation. Customers in the EEA, which includes all 27 EU member states as well as Iceland, Norway and Liechtenstein, can still collect rewards until November 30th. Despite this setback, some crypto companies are finding ways to work within MiCA regulations while others are entering new markets with their own stablecoins pegged to local currencies.

The MiCA regulation has caused frustration for many crypto enthusiasts who see it as restricting opportunities for growth and innovation in the industry. Some argue that regulations like these often hinder consumer-friendly developments and prevent progress in digital currencies. However, despite these challenges, companies like Binance continue to find ways to navigate the changing regulatory landscape and bring new products to market.

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