Circle Gets MiCA Approval for its Stablecoins

Circle, the creator of the USDC and EURC stablecoins, has declared its compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, making it the first global issuer of stablecoins to do so.

The company has obtained an Electronic Money Institution (EMI) license from France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR).

In a statement, Circle co-founder and CEO Jeremy Allaire highlighted the company’s commitment to building stable and compliant infrastructure for stablecoins since its inception.

The company’s adherence to MiCA, which is one of the most comprehensive regulatory regimes for crypto assets globally, is a significant milestone in bringing digital currency into mainstream acceptance and usage.

MiCA went into effect in June 2023 and offers a robust regulatory framework for crypto assets across the EU.