Circle is the first stable coin emittent to receive a license in accordance with the EU's Mica regulations

• ACPR issues Circle EU-wide e-money license for USDC and EURC.
• Circle is the first stable coin emittent to receive a license in accordance with the Mica Ordinance.
• Mica aims to protect investors through transaction limits for stable coins.

CIRCLE is the first stable coin isser to receive the official approval in accordance with the European Union's Mica regulations for crypto-assets.

The license issued by the French financial supervisory authority Authorité de Contrôle Prudentiole et de Résolution (ACPR) entitles Circle to issue its StableCoins USDC and Euro Coin (EURC) throughout the EU.

circle can now issue stable coins across the EU

Kreis e-money-lizenz ACPR positions it as a pioneer in compliance with the mica regulations.

Jeremy Allaire, co -founder and CEO of Circle, emphasized the importance of this success and pointed out that he reflects the company's commitment to build a robust and regulated infrastructure for digital currencies.

Thanks to the "Passporting" function from Mica, Circle can offer its stable coin services throughout the European Union thanks to the license. This enables an EU-registered crypto company to be active in all member states.

In short, stable coins such as USDC and EURC cryptocurrencies that are coupled to Fiat currencies and offer a stable alternative to volatility that is usually associated with other cryptocurrencies such as Bitcoin. They enable quick transitions in and from crypto investments without being dependent on traditional bank accounts, which makes them an attractive option for investors.

effects of the mica regulations on crypto operations in the EU

mica represents the first comprehensive legal framework of the EU for crypto operations and includes specific provisions for the protection of investors and to prevent market manipulation.

The first mica regulations for stable coins came into force on June 30th, while the remaining provisions for providers of crypto asset services will be implemented by the end of December 2024.

by July 2026, the complete compliance with all mica regulations is required.

A remarkable aspect of the stable coin rules of Mica is the limitation of the daily transaction volume of non-euro stable, which is limited to 1 million transactions or 200 million euros. This regulation is intended to ensure market stability and protect the financial system from potential risks associated with high volume transactions.

Circles USDC stable is the second best

after Tethers Usdt

Circle was founded in 2018 and quickly developed into an important player on the cryptocurrency market. His stable coin USDC is the second largest worldwide with tokens worth $ 32.4 billion. Only Tethers Usdt with $ 112.7 billion is even greater.

The new official approval as part of Mica not only strengthens Circle's market position, but also improves the ability of the company to offer safe and compliant stable coin services throughout the EU.

It is important to note that some providers of crypto services such as Bitstamp have dropped Tether's stable coins in the EU, but the official approval of Circle gives the USDC an advantage over Tether's stable coins in the EU