Circle is the first stable coin emittent to meet the new Listing standards of Canada
Circle is the first stable coin emittent to meet the new Listing standards of Canada
- Circle received the approval from the OSC and the CSA after it had met the VRCA requirements
- In July, Circle was the first stable coin emittent to receive a license according to the EU mica regulations
CIRCLE is the first stable coin emittee to meet Canada's new regulatory requirements for stable coins.
By fulfilling the Canadian VRCA requirements (Value referned Crypto Asset), circles USDC can be offered on registered Canadian crypto trading platforms that meet the standards.
Jeremy Allaire, co -founder and CEO of Circle, published the announcement on X
"Circle is the first stable coin emittee to keep the new listing and market rules for the Canadian cryptoma market. USDC is the first and only large dollar booth that corresponds to the new regulations in Canada."
circle is the first stable coin emittent to comply with the new notification and market rules for the Canadian cryptoma market. USDC is the first and only large dollar tablecoin that corresponds to the new regulations in Canada. https://t.co/ykquzt3de3
- jeremy allaire - jda.eth / jdallaire.sol (@jerallaire) 4. December 2024
CIRCLE received the approval before the CSA's deadline for deleting non -compliant stable coins on December 31, 2024.
DANTE DISPARTE, Chief Strategy Officer and Head of Global Policy at Circle said about Circle's performance: "The availability of USDC in Canada underlines compliance with new global regulations by Circle and represents a further step forward in promoting a transparent and responsible digital financial ecosystem." Add:
"The proactive approach of the Canadian Securities Administrator in providing a regulatory framework for digital assets strengthens the integrity of the markets for digital assets and at the same time ensures the continuing dependency on USDC in the entire emerging Canada."
The regulatory environment of circle
Otherwise, Circle is subject to the US Bank Secrecy Act and has money transmitters licenses in several US states.
In July, the StableCoin issuer was the first to receive official approval according to the markets in Crypto-Assets (Mica) regulations of the European Union. The approval grants Circle the opportunity to issue its stable coins USDC and Euro Coin (EURC) throughout the EU.
In addition, Circle received a Major Payment Institution (MPI) license for digital payment services in Singapore in June 2023.
The license issued by the Monetary Authority of Singapore enables circle, digital payment services, cross-border money transfer services and domestic money transfer services in Singapore
USDC has a market capitalization of $ 40.6 billion and is therefore in second place according to Tethers Usdt with a value of more than $ 135.8 billion.
Source: Coinlist.me
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