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For the first time in its field, a company received this approval, representing a global first for the European Union. Circle announced that they have obtained permission to issue stablecoins within the framework of EU crypto laws and are the first issuer in the region globally. This is good news for crypto.
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Circle, the company behind USDC, recently announced that its registration as an electronic money institution in France has been approved. What does this mean? The company has obtained a compliant stablecoin issuer license under the EU’s stringent crypto laws. This means EU citizens can conduct USDC transactions smoothly and legally. This development seems to pave the way for USDC in many areas. But is it just for USDC? Certainly not, this success will also benefit the rest of the cryptocurrencies.
The license granted by France’s banking sector regulator Autorite de Controle Prudentiel et de Resolution (ACPR) makes the issuance of USDC possible in the European region in a MiCA-approved manner.
Circle’s co-founder and CEO Jeremy Allaire said:
“Since our founding, Circle has strived to build a resilient, compliant, and well-regulated infrastructure for stablecoins. Our commitment to MiCA, representing one of the world’s most comprehensive crypto regulatory regimes, has allowed us to achieve a significant milestone.”
