Circle has obtained a license and approval to issue stablecoins under the Markets in Crypto Assets (MiCA). This makes Circle the first global stablecoin issuer to comply with MiCA. Circle will be able to issue its stablecoins USDC and EURC under the regulatory framework.

Circle has been working diligently to meet the regulatory requirements in the stablecoin sector and has now received the green light from MiCA to launch stablecoins in Europe. In December, the company obtained a digital asset license in France and appointed a head of French operations. This development follows Circle's efforts to comply with all regulations.

MiCA

The European Union has established the Markets in Crypto Assets (MiCA) regulatory framework to create uniformity in crypto regulation among member states. MiCA was approved by the European Parliament in April 2023, and the rules are being gradually implemented.

As part of this framework, stablecoins issued in the region must adhere to stricter regulatory requirements. Other provisions, including those applicable to stablecoins, are being phased in over time, with full compliance for all aspects required by the end of the year. This also applies to stablecoin issuers operating outside the EU but providing services to EU citizens.