Circle yesterday announced that it has officially registered as an electronic money institution (EMI) in France.
This registration grants the cryptocurrency firm a crucial license to operate as a legitimate stablecoin issuer and comply with the European Union’s stringent crypto laws.
Circle, best known for its stablecoin USD Coin (USDC), stated that it was granted the e-money license by ACPR, France’s banking industry regulator.
This makes Circle the first global stablecoin issuer to be in accordance with the EU’s groundbreaking Markets in Crypto-Assets (MiCA) regulatory framework.
According to the company, this license allows both its USDC and Euro Coin (EURC) tokens to be issued in the EU, adhering to MiCA’s stablecoin regulatory obligations.
Circle also plans to open its Circle Mint service, which enables businesses to create and redeem Circle stablecoins, in France.
