Circle Becomes First Global Stablecoin Issuer to Meet MiCA Standards
As of July 1st, Circle has taken a significant step by issuing USDC and EURC directly to its European clientele in adherence to the latest crypto regulations.
Circle Embraces MiCA Norms for USDC and EURC in Europe
This development coincides with the implementation of MiCA, signifying a pivotal juncture for Circle and the wider digital asset sector in the EU.
France has notably been instrumental in shaping these regulations, showcasing proactive involvement not limited to its own borders but extending to its influence during the EU Presidency. This influence has been instrumental in crafting a comprehensive regulatory framework for crypto trading entities, custody, and token issuance, drawing inspiration from France's progressive policies.
All circulating USDC and EURC tokens in Europe now comply with MiCA standards. Circle has ensured complete compliance by maintaining 100% of EURC reserves within its regulated entity, Circle France. Likewise, USDC reserves held by European entities are secured through a Global Systemically Important Bank (GSIB).
Circle swiftly adapted to the regulatory alterations by establishing Circle Mint France, enabling the direct issuance and redemption of USDC and EURC with prominent institutions across the European market, spanning exchanges, market makers, consumer wallets, fintech firms, banks, and large corporations.
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