European Union plans to ban interest payments on deposits in stablecoins
The European Union is preparing to ban cryptocurrency platforms from charging interest on stablecoin deposits, according to Patrick Hansen, head of strategy at DeFi at Unstoppable Finance.
Lawmakers will set high regulatory requirements for issuers of all types of stablecoins, with no exceptions being made for algorithmic ones. The decision will be announced at a meeting of representatives from the European Parliament, the European Commission and the Council of the European Union on June 30.