Coinbase to Discontinue USDC Yield Program in Europe Due to MiCA Regulations

由於 MiCA 法規，Coinbase 將終止歐洲的 USDC 收益計劃

Coinbase has announced that it will discontinue its USDC yield offerings for customers in the European Economic Area (EEA) starting December 1, 2024. This decision aligns with the European Union's Markets in Crypto-Assets (MiCA) regulations, which impose stringent rules for stablecoins.

Coinbase 宣布將從 2024 年 12 月 1 日起停止為歐洲經濟區 (EEA) 的客戶提供 USDC 收益產品。

In an email dated November 28, Coinbase informed affected users that the USDC Rewards program would be terminated. The announcement has garnered mixed reactions, with some clients expressing disappointment. Coinbase has not yet responded to inquiries regarding the cessation of this service.

在 11 月 28 日的一封電子郵件中，Coinbase 通知受影響的用戶，USDC 獎勵計劃將被終止。該公告引起了不同的反應，一些客戶表示失望。 Coinbase 尚未回覆有關停止該服務的詢問。

Regulatory Impact on EEA Clients

監管對歐洲經濟區客戶的影響

The EEA comprises 30 nations, including the EU member states and Iceland, Norway, and Liechtenstein. Eligible users in this region will no longer be able to participate in the USDC Rewards program after December 1, 2024. However, they can continue to earn rewards on their USDC balances until November 30, 2024.

歐洲經濟區由 30 個國家組成，包括歐盟成員國以及冰島、挪威和列支敦士登。該地區符合資格的用戶將無法再參與 2024 年 12 月 1 日之後的 USDC 獎勵計劃。

Coinbase has cited compliance with MiCA regulations as the rationale for this change. MiCA, which was introduced in June 2023, mandates compliance by December 30, 2024. These regulations prohibit offering yield on stablecoins, which are classified as "e-money tokens." Crypto firms operating within the EU must adhere to these laws to continue providing their services.

Coinbase 表示，遵守 MiCA 法規是這項變更的理由。 MiCA 於 2023 年 6 月推出，要求在 2024 年 12 月 30 日之前遵守規定。在歐盟境內運作的加密貨幣公司必須遵守這些法律才能繼續提供服務。

Community Reactions

社區反應

The crypto community has expressed concerns about the regulatory environment. Paul Berg, CEO of Sablier, criticized the EU's approach in a post on X, stating that he is "very grateful to the EU" for preventing him from earning yields on his USD Coin holdings.

加密社群表達了對監管環境的擔憂。 Sablier 執行長 Paul Berg 在 X 上的一篇貼文中批評了歐盟的做法，表示他「非常感謝歐盟」阻止他透過持有的美元代幣賺取收益。

David Schwartz, CTO of Ripple Labs, echoed Berg's views and noted that regulations often impede companies from offering consumer-friendly services. He remarked, "It's funny how often regulations prevent companies from doing things that are unarguably pro-consumer."

Ripple Labs 技術長 David Schwartz 同意 Berg 的觀點，並指出法規經常阻礙公司提供消費者友善服務。他表示：“有趣的是，法規經常阻止公司做毫無爭議的有利於消費者的事情。”

Industry Adaptations to MiCA

MiCA 的行業適應

Coinbase's decision aligns with broader industry trends as companies adjust to MiCA requirements. In October, Coinbase announced plans to delist non-compliant stablecoins, including Tether's EURT, from its European exchange by the end of 2024.

隨著公司適應 MiCA 要求，Coinbase 的決定符合更廣泛的行業趨勢。 10 月，Coinbase 宣布計劃在 2024 年底前將不合規的穩定幣從其歐洲交易所下架，其中包括 Tether 的 EURT。

Tether has confirmed that it will discontinue support for EURT until a more secure regulatory framework is established. Users holding EURT balances have until November 27, 2025, to redeem their holdings. However, Tether has announced plans to invest in Quantoz Payments to develop MiCA-compliant stablecoins, EURQ and USDQ.

Tether 已確認將停止對 EURT 的支持，直到建立更安全的監管框架。持有 EURT 餘額的使用者必須在 2025 年 11 月 27 日之前贖回其持有的資產。然而，Tether 宣布計劃投資 Quantoz Payments，以開發符合 MiCA 的穩定幣、EURQ 和 USDQ。

Industry Shifts Under MiCA

MiCA 下的產業轉變

The MiCA regulations have significantly altered the European crypto landscape. By establishing clear compliance standards, the EU aims to regulate the industry more effectively. However, these regulations have also raised concerns about innovation and consumer benefits, as demonstrated by the termination of Coinbase's USDC Rewards program.

MiCA 法規大幅改變了歐洲的加密貨幣格局。透過建立明確的合規標準，歐盟旨在更有效地監管該行業。然而，這些法規也引發了人們對創新和消費者利益的擔憂，Coinbase 的 USDC 獎勵計畫的終止證明了這一點。

Coinbase's decision underscores the challenges crypto firms face in navigating regulatory complexities within the EU. The cessation of USDC Rewards may disappoint some users, but it highlights the broader impact of MiCA regulations on the industry. Companies must now balance compliance with maintaining user trust and satisfaction.

Coinbase 的決定凸顯了加密貨幣公司在應對歐盟內部複雜監管方面所面臨的挑戰。 USDC 獎勵的停止可能會讓一些用戶感到失望，但這凸顯了 MiCA 法規對行業的更廣泛影響。公司現在必須在合規性與維護用戶信任和滿意度之間取得平衡。