USDC issuer Circle has announced that its USD-pegged token has become the first of its kind to comply with upcoming listing rules laid out by Canada’s securities regulator. This compliance will allow the Stablecoin to continue being listed on licensed crypto trading platforms.
According to Circle, its stablecoin, known as Circle USD, meets all the requirements set out in the Canadian Securities Administrators’ (CSA) Value-Referenced Crypto Asset (VCRA) regime, which is a type of crypto asset designed to maintain a stable value by referencing a fiat currency or other assets.
The CSA has set a deadline of December 31 for all stablecoins listed on Canadian-registered crypto platforms to comply with the VRCA regime.
Any stablecoin that fails to comply will be delisted. Circle has also achieved full compliance with the Ontario Securities Commission.
