Circle Snags First Stablecoin License Under EU's New MiCA Crypto Rules
Summary
Stablecoin issuer Circle has obtained an Electronic Money Institution (EMI) license, allowing it to offer dollar- and euro-pegged crypto tokens in the European Union (EU) under the Markets in Crypto-Assets (MiCA) regulatory framework. Circle's USDC is the second largest dollar stablecoin after Tether's USDT. The EMI license, granted by the French banking regulatory authority, enables Circle Mint France to issue its euro-denominated EURC stablecoin and USDC for customers in the EU. The MiCA's approach to stablecoins was influenced by the prospect of large tech companies, such as Meta's Diem, entering financial markets.
