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Regulatory developments in the cryptocurrency market continue to be a hot topic. While many countries are taking significant steps regarding the issue, crypto companies are also making notable moves during this period. Accordingly, the stablecoin issuer Circle has obtained a crypto asset regulation license in France and has included a new Head of French Operations in its company.
Circle’s Significant Achievement
According to the statement made by the Circle team, Circle has received a conditional license as a Digital Asset Service Provider (DASP) from the French Financial Markets Authority. Coralie Billmann, who currently serves as the Director of European Operations and is a board member of the global commercial account and payment company 3S Money, has been appointed as the Head of French Operations.
With this step, Circle is increasingly aligning with the European standards related to the Crypto Asset Markets (MiCA) regulation, a legal framework for crypto asset firms interacting with markets within the European Union. Billmann will not only lead licensed operations in France but also help ensure that Circle is prepared for MiCA.
Jeremy Allaire’s Statement on the Matter
Circle co-founder and CEO Jeremy Allaire commented on the matter, stating:
“The granting of this conditional DASP registration in France marks an important milestone as we work to establish our European regulatory platform. Coralie Billmann’s joining Circle will bring deep market expertise and leadership, effectively advancing our regulatory efforts and deepening our connections in France.”
According to Billmann’s LinkedIn profile, the renowned executive led Payment High Growth Technology Sales at JP Morgan and the EMEA Treasury at PayPal Luxembourg before joining 3S Money. With all these developments, the legislative approval for Billmann’s appointment to her new role at Circle is awaited.
Regulatory challenges faced by crypto companies with European Union countries remain a hot topic. Following the FTX bankruptcy, the European Union continues to take significant steps for crypto companies, and at the end of this process, the cryptocurrency exchange Binance decided to cease its services in many European countries.
