Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Blockchain

Crypto firm Circle gets approval to issue stablecoin in EU under bloc’s strict rules

Published

on

crypto-firm-circle-gets-approval-to-issue-stablecoin-in-eu-under-bloc’s-strict-rules

Circle, a prominent cryptocurrency firm known for its USD Coin (USDC) stablecoin, announced on Monday that it has registered as an electronic money institution (EMI) in France. This registration grants Circle a key license to become a compliant stablecoin issuer under the European Union’s stringent crypto regulations.

Key Points

  • EMI License: Circle received the e-money license from France’s banking regulator, Autorite de Controle Prudentiel et de Resolution (ACPR).
  • MiCA Compliance: This license makes Circle the first global stablecoin issuer to comply with the EU’s Markets in Crypto-Assets (MiCA) regulatory framework.
  • Stablecoin Issuance: Both USDC and Euro Coin (EURC) are now issued in the EU in compliance with MiCA’s regulations.
  • Circle Mint in France: Circle is also launching Circle Mint in France, enabling businesses to mint and redeem Circle stablecoins.

Regulatory Milestone

Jeremy Allaire, co-founder and CEO of Circle, emphasized the significance of this achievement, highlighting that adherence to MiCA represents a major step in bringing digital currency into mainstream acceptance and scale.

EU’s MiCA Framework

  • Comprehensive Regulation: MiCA, which became law in May 2023, is the world’s first comprehensive regulatory framework for cryptocurrencies.
  • Stablecoin Rules: Provisions for stablecoins, approved last week, impose strict limitations on non-euro-denominated stablecoins used as a “means of exchange” if they exceed specified transaction thresholds.
  • Passporting Services: As a France-registered EMI, Circle can offer its services across the entire EU, leveraging the “passporting” rights within the bloc.

Compliance Timeline

  • MiCA Implementation: Full compliance for crypto asset service providers under MiCA is required by December 30, 2024.
  • Transition Period: Companies will have until July 2026 to fully comply with all MiCA regulations.

Circle’s Market Position

Launched in September 2018 by Circle and crypto exchange Coinbase, USDC is the second-largest stablecoin globally, with $32.4 billion in circulation, according to CoinGecko. It follows Tether’s USDT, the largest stablecoin with $112.7 billion in circulation.

Circle’s registration as an EMI in France and compliance with the MiCA framework mark significant advancements for the firm. This move not only enhances Circle’s regulatory standing but also positions it to better serve its users by integrating traditional financial standards with the innovative capabilities of blockchain technology.

Source: cnbc.com

The post Crypto firm Circle gets approval to issue stablecoin in EU under bloc’s strict rules appeared first on HIPTHER Alerts.

Advertisement
Continue Reading
Advertisement

Blockchain

India Electronic Contract Services Market to Worth Over US$ 624.33 Million By 2033 | eSignature Demand Among Financial Institutes to Remain High Says Astute Analytica

Published

on

india-electronic-contract-services-market-to-worth-over-us$-624.33-million-by-2033-|-esignature-demand-among-financial-institutes-to-remain-high-says-astute-analytica
Continue Reading

Blockchain

UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System

Published

on

unicc-and-shelterzoom-developed-a-secure-document-tracking-and-e-signature-solution-for-the-un-system

The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.

Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.

“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”

ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.

Advertisement

“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”

The post UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System appeared first on News, Events, Advertising Options.

Continue Reading

Blockchain

Bybit Supports Wildlife Conservation Through Sea Turtle Adoption Initiative with Subsum

Published

on

bybit-supports-wildlife-conservation-through-sea-turtle-adoption-initiative-with-subsum

Bybit

Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE