{"id":33449,"date":"2024-07-02T08:30:52","date_gmt":"2024-07-02T08:30:52","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/circle-secures-groundbreaking-stablecoin-license-under-eu-mica-framework\/"},"modified":"2024-07-02T08:30:52","modified_gmt":"2024-07-02T08:30:52","slug":"circle-secures-groundbreaking-stablecoin-license-under-eu-mica-framework","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/circle-secures-groundbreaking-stablecoin-license-under-eu-mica-framework\/","title":{"rendered":"Circle Secures Groundbreaking Stablecoin License Under EU MiCA Framework"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Circle has secured an Electronic Money Institution (EMI) license, making it the first stablecoin issuer in the world. Offering cryptocurrency tokens that are tied to the dollar and the euro in the European Union in accordance with the Markets in Crypto Assets (MiCA) regulatory framework requires this.<\/p>\n

With this authorization, Circle, whose USDC is second only to Tether\u2019s USDT, is in a better position to gain market share among the 450 million residents of the EU. In the world of digital assets, stablecoins are essential since they make trading easier and are being used more and more for transactions and remittances. Tether\u2019s $110 billion USDT continues to hold a sizable lead over Circle\u2019s $32 billion USDC, which is the second-largest stablecoin.<\/p>\n

Armed with a license from the French banking regulatory authority, Circle Mint France will \u201conshore\u201d the issuance of its euro-denominated EURC stablecoin to the EU. The same entity will issue USDC. Before MiCA\u2019s stablecoin rules took effect on June 30, some crypto exchanges delisted euro-denominated stablecoins, such as Tether\u2019s EURT.<\/p>\n

MiCA\u2019s Influence on the Market<\/h2>\n

MiCA\u2019s comprehensive stance on stablecoins was prompted by big tech initiatives, like Meta\u2019s Diem (formerly Libra), entering financial markets. This led to five years of policy development in Europe. Circle\u2019s head of policy, Dante Disparte, who was involved in the Libra project, commented on MiCA\u2019s development.<\/p>\n

\u201cPersonally, I feel a little bit of a semi-parental relationship with MiCA because in some ways it was accelerated by my prior life and my prior project, Libra Diem,\u201d<\/em> Disparte said in an interview. \u201cMiCA is both vindicating of the industry and its permanence, but it\u2019s also clear that there is no more shortcuts, at least not in the third-largest economy in the world. Gone are the days where you could operate in a regulatory haven or in the shadows and then expect to have liberal and free access to consumers and market participants.\u201d<\/em><\/p>\n

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Circle\u2019s new license marks a significant step in the stablecoin industry, ensuring compliance with stringent EU regulations. This move could lead to broader acceptance and usage of stablecoins within the EU. Circle\u2019s proactive approach sets a benchmark for other stablecoin issuers, emphasizing the importance of regulatory compliance.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) Circle has secured an Electronic Money Institution (EMI) license, making it the first stablecoin issuer in the world. Offering cryptocurrency tokens that are tied to the dollar and the euro in the European Union in accordance with the Markets in Crypto Assets (MiCA) regulatory framework requires […]<\/p>\n","protected":false},"author":34,"featured_media":33450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33449"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33449"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33450"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}