Circle MiCA EMT licensing event

Event · PageRank 0.0000

Also known as: Circle France EMI

Overview

On July 1, 2024, Circle announced it had become the first global stablecoin issuer to comply with the European Union's Markets in Crypto-Assets (MiCA) regulation. Compliance followed the grant of an electronic money institution (EMI) licence to its French entity, Circle Mint France/Circle Mint Europe SAS, by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the French banking supervisor. The licence took effect the same day MiCA's stablecoin provisions applied, allowing Circle to issue and redeem both USDC and the euro-denominated EURC within the EU under the new framework.

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Frequently asked questions

What licence did Circle obtain and from whom?

An electronic money institution (EMI) licence from France's ACPR, granted to its French entity on July 1, 2024.

Why did the licence matter under MiCA?

MiCA's stablecoin (e-money token) provisions took effect at the end of June 2024, and the EMI licence made Circle the first global stablecoin issuer able to issue MiCA-compliant tokens, covering both USDC and EURC in the EU.

Which tokens are covered?

USDC and the euro stablecoin EURC, which is issued by Circle's French subsidiary Circle Mint Europe SAS.