Crypto firm Circle said it’s been granted an e-money license from France, bringing it into compliance with stablecoin rules under European Union crypto…
Crypto firm Circle said Monday it's been granted an e-money license from France which makes the firm compliant with stablecoin provisions under European Union crypto laws.
Cryptocurrency firm Circle said Monday it's now registered as an electronic money institution, or EMI, in France, granting the firm a key license to become a compliant stablecoin issuer under the European Union's tough crypto laws., or USDC, stablecoin, said in a statement that it was granted an e-money license by France's banking industry regulator, Autorite de Controle Prudentiel et de Resolution, or ACPR.
"Since our founding, Circle has sought to build durable, compliant, and well-regulated infrastructure for stablecoins," Jeremy Allaire, co-founder and CEO of Circle, said in a statement Monday."Our adherence to MiCA, which represents one of the most comprehensive crypto regulatory regimes in the world, is a huge milestone in bringing digital currency into mainstream scale and acceptance," Allaire added.
Under the rules, companies must stop issuing non-euro denominated stablecoins used as a"means of exchange" if they cross a threshold of more than 1 million transactions or a value of over 200 million euros per day, according to Article 23 of MiCA.
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