The European Central Bank, together with central banks from various countries, submitted a revised opinion on MiCA on September 22, aiming to expand the ban on interest-bearing stablecoins to include lending, staking, liquidity mining, and even rewards like rebates. At the end of the day, it’s still about protecting the banks’ interests. In their eyes, stablecoins should only be a payment tool Basically, if lending happens directly on-chain without going through banks, how are they supposed to survive?