Four French financial institutions call for conditional permission of stablecoin rewards, opposing expansion of the ban to staking and lending

Odaily News: The French Ministry of Finance, the Autorité des Marchés Financiers (AMF), the Bank of France, and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) have jointly recommended to the European Commission that crypto platforms and other third parties be allowed to offer rewards to stablecoin holders when specific conditions are met. The four institutions believe that such rewards should be regulated rather than banned outright.

The four institutions proposed that platforms should disclose reward information to holders, must not promise guaranteed returns, and should not market rewards as savings products; regulators should also monitor the impact of rewards on bank deposits. France still supports banning stablecoin issuers from paying interest, but opposes extending the ban to staking and lending activities.

The European Central Bank and EU national central banks, however, advocate maintaining the ban on stablecoin interest and including indirect benefits such as rewards and fee waivers, as well as activities such as lending and staking, within the scope of restrictions. The European Commission must submit a review report on the Markets in Crypto-Assets Regulation (MiCA) to EU legislative bodies by June 30, 2027, and may propose amendments. (Bitcoin.com News)