Circle Gains First EU License for Stablecoins Under MiCA
Circle, a global stablecoin issuer, has become the first to secure an Electronic Money Institution (EMI) license in the EU, enabling it to offer dollar- and eurо-pegged cryptocurrencies under the new Markets for Crypto-Assets (MiCA) regulatory framework.
This positions Circle, known for its USDC stablecoin, to expand across the 27-nation EU bloc with its 450 million people.
The EMI license allows Circle to issue its Euro-denominated EURC stablecoin and USDC from France, following MiCA’s stablecoin rules that took effect on June 30.
This development comes as the gap between Circle’s $32 billion USDC and market leader Tether’s $110 billion USDT widens.
READ MORE: US Supreme Court Ends SEC’s Broad Crypto Oversight with Chevron Doctrine Repeal
MiCA’s regulatory approach was spurred by tech giants like Meta entering financial markets with initiatives like Diem (formerly Libra).
This led to five years of policy development in Europe, highlighted by Dante Disparte, Circle’s head of policy and a key figure in the Libra project.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
