Circle’s USDC and EURC stablecoins become the first fully compliant digital fiat tokens under the Markets in Crypto-Assets rules.
On July 1, Jeremy Allaire, co-founder and CEO of Circle, announced that the firm became the first stablecoin issuer in the European Union to gain regulatory approval under the EU’s sweeping Markets in Crypto-Assets (MiCA) regulatory framework.
Circle’s USDC (USDC) and EURC are regulatory compliant under the new rules, effective immediately, quelling fears that investors would have to redeem their stablecoins or transfer their funds to other digital assets in order to stay compliant.
Allaire then announced that Circle chose France as the company’s European headquarters, citing France’s forward-looking stance on digital asset regulation and Circle’s working relationship with the French Prudential Supervision and Resolution Authority (ACPR).