Circle, the issuer of USDC and EURC stablecoins, has made a groundbreaking achievement by becoming the first in the world to comply with the EU’s MiCA regulations.
This milestone, marked by obtaining an EMI license from the French ACPR, allows Circle to offer its stablecoins in the European market under stringent regulatory standards.
This development promises to revolutionize finance and commerce with digital assets in the EU.
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Circle Obtains EMI License from French Regulatory Authority
Circle, known for issuing stablecoins like USDC and EURC, announced on July 1, 2024, that it has become the world’s first stablecoin issuer to comply with the European Union’s (EU) cryptocurrency market regulations (MiCA).
This allows both USDC and EURC to be issued in the EU in compliance with MiCA regulations.
USDC is a stablecoin designed to be pegged to the US dollar, while EURC is pegged to the euro.
This compliance ensures that these stablecoins can operate within the stringent regulatory framework established by MiCA, promoting trust and stability in the digital currency market.
CEO Jeremy Allaire on Circle’s Commitment to Compliance
Jeremy Allaire, Circle’s co-founder and CEO, emphasized the company’s long-standing goal of building a durable and regulatory-compliant infrastructure for stablecoins.
He stated, “Compliance with MiCA, one of the world’s most comprehensive cryptocurrency regulatory regimes, marks a significant milestone towards the widespread adoption of digital currency.”
With this license, Circle can now offer USDC and EURC in the European market based on regulatory standards, unlocking significant potential for digital assets to transform finance and commerce.
This move is expected to bring new opportunities and advancements in the European financial landscape.
USD Coin (USDC) is widely adopted as a base currency on various cryptocurrency exchanges globally. Recently, Japanese exchanges have also announced plans to handle USDC, further expanding its reach and utility.
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