Circle proudly stands as the first global stablecoin issuer to achieve compliance with the Markets in Crypto-Assets (MiCA) framework.
Effective July 1st, Circle has begun natively issuing both USDC and EURC to European customers, aligning with the new crypto regulation.
Circle Adopts MiCA Standards for USDC and EURC in Europe
This milestone coincides with the agreement on MiCA. It marks a pivotal moment for Circle and the broader digital asset ecosystem within the EU.
It’s important to mention that France has played a pivotal role in shaping these regulations. The French government’s proactive stance is not only within its borders. Also, during its EU Presidency has influenced the development of a comprehensive EU-wide regulatory framework. This framework draws inspiration from France’s forward-thinking policies on crypto trading firms, custody, and token issuance regulations.
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All USDC and EURC tokens currently circulating in Europe are now officially MiCA compliant. Circle has ensured full compliance by holding 100% of EURC reserves under its regulated entity, Circle France. Similarly, reserves for USDC held by European entities are safeguarded with a Global Systemically Important Bank (GSIB).
Source: X
Circle has swiftly adapted to these regulatory changes by establishing Circle Mint France, facilitating the issuance and redemption of USDC and EURC directly with major institutions across the European market. This includes exchanges, market makers, brokerages, consumer wallets, fintechs, payment institutions, banks, and large enterprises.
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