TechFlow news, on November 29, according to Cryptoslate, an email sent to customers on November 28 stated that due to the upcoming Markets in Crypto-Assets (MiCA) regulations, Coinbase will cease offering rewards to USDC holders located in the European Economic Area (EEA) starting December 1.
Coinbase said the move is a result of new requirements for electronic money tokens. Users will continue to accrue earnings on their USDC balances until November 30, with the value paid out within the first 10 business days of December.
Coinbase's USDC Rewards program is available in over 100 jurisdictions. It provides a daily yield based on users' USDC balances on the exchange, with annual percentage yields (APY) varying by region.
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