Stablecoin

2024

EURC

USDC

<ul>
 <li>Circle is the first global stablecoin issuer to achieve EU MiCA compliance, allowing USDC and EURC issuance in Europe.</li>
 <li>Circle’s MiCA compliance enables seamless USDC and EURC integration, targeting major financial institutions in the EU.</li>
 <li>Circle forms its EU headquartered office making the European Union a core ground in the regional digital money market.&nbsp;</li>
</ul>
<p>Circle, one of the financial technologies company, become first company to adhere to the <a href="https://cryptonewsland.com/eu-leads-the-way-in-crypto-legislation-with-micas-enactment/" rel="noopener noreferrer nofollow">EU regulation MiCA</a>. It plays a significant role in the digital financial journey; this frees up Circle to issue its stablecoins, USDC and EURC within the EU under this all-inclusive structure.</p>
<p>Circle’s authorization as an Electronic Money Institution in France further solidifies its presence in the European market.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">JUST IN: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1ea-1f1fa.png" alt="🇪🇺" class="wp-smiley" style="height: 1em; max-height: 1em;"> Circle becomes first global stablecoin issuer to obtain Electronic Money Institution license under EU's MiCA crypto law.</p>— Watcher.Guru (@WatcherGuru) <a href="https://twitter.com/WatcherGuru/status/1807810558080733565?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a>
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<h3 class="wp-block-heading" id="h-compliance-with-mica-regulation"><strong>Compliance with MiCA Regulation</strong></h3>
<p>Circle USDC and <a href="https://www.circle.com/en/eurc" rel="noopener noreferrer nofollow">EURC stablecoins</a> are now MiCA compliant in the EU. It allows Circle to issue these stablecoins directly to European customers.</p>
<p>While MiCA provides regulatory guidance for stablecoins and digital asset markets, the framework is not yet enforced after being approved by the EU Parliament last year.&nbsp;</p>
<p>Compliance with these rules allows Circle to use its stablecoins in payments, finance and trade as part of the general financial infrastructure. Speaking on the matter, Circle CEO highlighted its strategic choice to establish it European division in France as they have been working with French regulators over a year.&nbsp;</p>
<p>Circle now has this authorisation to operate under the supervision of the Autorité de Contrôle Prudentiel et de Résolution (ACPR), which it claims is a first for any digital currency business in France.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a> and <a href="https://twitter.com/search?q=%24EURC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$EURC</a> are legal tokens in the EU today.<br><br>Why is today so important? This is the first time ever in history of crypto a blockchain token has been declared legal in a sovereign jurisdiction. This is the end of Stage 1 where crypto was "tolerated", and the start of Stage 2…</p>— MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1807802061284638739?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a>
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<h3 class="wp-block-heading" id="strong-market-position-and-strategy-strong"><strong>Market Position and Strategy</strong></h3>
<p>The Electronic Money Institution license allows Circle to compete effectively within the EU’s 27-nation trading bloc, which comprises 450 million people. This positioning is advantageous for USDC, especially against its main competitor, <a href="https://cryptonewsland.com/tether-integrates-usdt-and-xaut-on-ton-blockchain/" rel="noopener noreferrer nofollow">Tether’s USDT</a>.&nbsp;</p>
<p>Circle’s focus on building compliant and regulated infrastructure for its stablecoins aligns with MiCA’s objectives, aiming to bring digital currencies into broader acceptance and use.</p>
<h3 class="wp-block-heading" id="strong-impact-on-european-users-strong"><strong>Impact on European Users</strong></h3>
<p>European users of USDC and EURC will experience <a href="https://cryptonewsland.com/bybit-integrates-apple-pay-for-seamless-cryptocurrency-purchases-bolstering-global-crypto-adoption/" rel="noopener noreferrer nofollow">seamless integration</a> with these stablecoins in their transactions. Circle has clarified that users will not face any immediate changes in trading, transacting, or using these stablecoins in decentralized finance (DeFi).&nbsp;</p>
<p>The issuance and redemption processes for USDC and EURC are managed through Circle Mint France, targeting major institutions such as exchanges, market makers, brokerages, fintech companies, payment institutions, banks, and large enterprises.</p>
<h3 class="wp-block-heading" id="strong-future-prospects-strong"><strong>Future Prospects</strong></h3>
<p>Circle’s adherence to MiCA represents a forward step for the digital financial ecosystem, not only within Europe but globally.&nbsp;</p>
<p>By complying with one of the most comprehensive crypto regulatory regimes, Circle sets a precedent for other stablecoin issuers and positions itself as a leader in the integration of digital assets into traditional financial systems.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/why-circle-chose-stellar-for-its-renowned-eurc-after-ethereum-and-avalanche-success/" rel="noopener noreferrer nofollow">Why Circle Chose Stellar for its Renowned EURC After Ethereum and Avalanche Success</a></li>
 <li><a href="https://cryptonewsland.com/iota-strategically-aligns-with-eus-mica-bill-to-navigate-regulatory-landscape/" rel="noopener noreferrer nofollow">IOTA Strategically Aligns with EU’s MiCA Bill to Navigate Regulatory Landscape</a></li>
 <li><a href="https://cryptonewsland.com/eu-leads-the-way-in-crypto-legislation-with-micas-enactment/" rel="noopener noreferrer nofollow">EU Leads the Way in Crypto Legislation with MiCA’s Enactment</a></li>
 <li><a href="https://cryptonewsland.com/ripple-wins-uks-pay360-award-as-ripple-partner-uphold-delists-multiple-stablecoins-including-usdt/" rel="noopener noreferrer nofollow">Ripple Wins UK’s Pay360 Award as Ripple Partner Uphold Delists Multiple Stablecoins Including USDT</a></li>
 <li><a href="https://cryptonewsland.com/eu-parliament-nods-to-crypto-mining-for-mica-law/" rel="noopener noreferrer nofollow">EU Parliament Nods to Crypto Mining for MICA Law</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/circle-makes-history-as-first-stablecoin-issuer-to-achieve-eu-mica-compliance/" rel="noopener noreferrer nofollow">Circle Makes History as First Stablecoin Issuer to Achieve EU MiCA Compliance</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Circle Makes History as First Stablecoin Issuer to Achieve EU MiCA Compliance

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