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

由于 MiCA 法规，Coinbase 将终止欧洲的 USDC 收益计划

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 宣布将从 2024 年 12 月 1 日起停止为欧洲经济区 (EEA) 的客户提供 USDC 收益产品。这一决定符合欧盟加密资产市场 (MiCA) 法规，该法规对稳定币施加了严格的规则。

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 日的一封电子邮件中，Coinbase 通知受影响的用户，USDC 奖励计划将被终止。该公告引起了不同的反应，一些客户表示失望。 Coinbase 尚未回复有关停止该服务的询问。

Regulatory Impact on EEA Clients

监管对欧洲经济区客户的影响

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.

欧洲经济区由 30 个国家组成，包括欧盟成员国以及冰岛、挪威和列支敦士登。该地区符合条件的用户将无法再参与 2024 年 12 月 1 日之后的 USDC 奖励计划。不过，他们可以在 2024 年 11 月 30 日之前继续通过其 USDC 余额赚取奖励。

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 法规是这一变化的理由。 MiCA 于 2023 年 6 月推出，要求在 2024 年 12 月 30 日之前遵守规定。这些法规禁止为稳定币提供收益，稳定币被归类为“电子货币代币”。在欧盟境内运营的加密货币公司必须遵守这些法律才能继续提供服务。

Community Reactions

社区反应

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.

加密社区表达了对监管环境的担忧。 Sablier 首席执行官 Paul Berg 在 X 上的一篇帖子中批评了欧盟的做法，表示他“非常感谢欧盟”阻止他通过持有的美元代币赚取收益。

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 首席技术官 David Schwartz 赞同 Berg 的观点，并指出法规常常阻碍公司提供消费者友好型服务。他表示：“有趣的是，法规经常阻止公司做毫无争议的有利于消费者的事情。”

Industry Adaptations to MiCA

MiCA 的行业适应

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.

随着公司适应 MiCA 要求，Coinbase 的决定符合更广泛的行业趋势。 10 月，Coinbase 宣布计划在 2024 年底前将不合规的稳定币从其欧洲交易所下架，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 已确认将停止对 EURT 的支持，直到建立更安全的监管框架。持有 EURT 余额的用户必须在 2025 年 11 月 27 日之前赎回其持有的资产。然而，Tether 宣布计划投资 Quantoz Payments，以开发符合 MiCA 的稳定币、EURQ 和 USDQ。

Industry Shifts Under MiCA

MiCA 下的行业转变

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 法规极大地改变了欧洲的加密货币格局。通过建立明确的合规标准，欧盟旨在更有效地监管该行业。然而，这些法规也引发了人们对创新和消费者利益的担忧，Coinbase 的 USDC 奖励计划的终止就证明了这一点。

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 的决定凸显了加密货币公司在应对欧盟内部复杂监管方面所面临的挑战。 USDC 奖励的停止可能会让一些用户感到失望，但这凸显了 MiCA 法规对行业的更广泛影响。公司现在必须在合规性与维护用户信任和满意度之间取得平衡。