Circle’s Stablecoins Approved Under MiCA Regulations
Circle has announced that its stablecoins, USDC and EURC, are now compliant with the EU’s Markets in Crypto Assets (MiCA) regulation.
Allowing Circle to issue these stablecoins directly to European customers. This milestone comes as Circle establishes its European headquarters in France. Where it is authorized as an e-money issuer by the Autorité de Contrôle Prudentiel et de Résolution (ACPR). CEO Jeremy Allaire celebrated the achievement. Emphasizing Circle’s status as the first global stablecoin issuer to achieve MiCA compliance.
The MiCA regulation, finalized and approved by the EU Parliament, sets rigorous standards for stablecoins. Aiming to integrate them into mainstream financial systems for payments and commerce. Circle affirmed that all USDC and EURC in circulation in Europe now meet MiCA standards, with Circle France overseeing 100% of EURC reserves.
Clever Robot News Desk 3rd July 2024
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