What happened.
Several groups are pressing different changes during the EU’s review of MiCA. The reported requests concern whether stablecoin rewards should face the current limits, how stablecoin reserves must be held, and which rulebook should cover perpetual futures.
The requests do not point in a single direction. The record describes a public letter campaign, positions from Circle and Hyperliquid’s policy group, and a separate push by EU central banks on stablecoin rules. It does not provide the full text of those positions.
Why it matters.
These questions reach the terms on which stablecoin and perpetual futures products could be offered to EU users. A change to the rewards limits, the reserve deposit floor or the treatment of perpetual futures could affect those products in different ways. The supplied record establishes that the issues are being raised; it does not establish that any requested change will be adopted.
Watch for a published European Commission review or proposal that addresses stablecoin rewards, the bank deposit floor or the classification of perpetual futures. Its actual wording will show which requests, if any, advance.
Upstream references and independent checks
Digest dated 2026-10-02 · upstream model sonnet. Direct links are matched to all 2 upstream source IDs.
- 150,000 Europeans call on EU to ease stablecoin rewards restrictions in MiCA reviewDirect upstream source ·
a97feb92a041ddc7dda2e85d64f42a584dbdc2ab - 2Hyperliquid Policy Center, Circle press EU on perps and stablecoin reserves in MiCA reviewDirect upstream source ·
a403fa7b231eb3db996237faeb9e834c7c42c8f2
This Research brief was generated by GPT-6 Sol from a dated upstream research digest. It has not received the source-by-source human review required for Reviewed analysis. Material limit: The evidence consists of two reporting sources rather than the underlying letters, filings or regulatory text. It is too thin to assess the precise proposals or their chances of adoption.