PANews reported on November 29 that according to Cryptoslate, according to an email sent by Coinbase to customers on November 28, due to Europe’s upcoming “Markets in Crypto Assets (MiCA)” regulations, Coinbase will stop providing rewards to USD Coin (USDC) holders located in the European Economic Area (EEA) from December 1.

The exchange said the move was due to new requirements for e-money tokens (how stablecoins are classified) under MiCA. Users will continue to receive earnings on their USDC balances until November 30, with earnings to be paid out within the first 10 business days of December.