In a recent announcement by the largest cryptocurrency exchange on the market, Binance reaffirmed its support for USD Coin (USDC) in the European market. The exchange’s support came after the stablecoin’s issuer, Circle, became the first to comply with the European Union’s upcoming Markets in Crypto-Assets (MiCA) regulation.
With the pioneering of USDC, which is becoming the first major stablecoin on the market to be regulated in the European Economic Area (EEA), the Binance exchange highlighted in a recent statement its support for the dollar-pegged cryptocurrency.
“On July 1, 2024, Circle announced that it has been authorized to issue USDC as a MiCA-compliant electronic money token (“EMT”), making USDC the first major regulated stablecoin in the EEA. This means that USDC will continue to be available across the majority of Binance’s product offerings,” it wrote.
USDC is now a Regulated Stablecoin in the EEA.
See how this affects your experience on Binance.
(this announcement is for users in the EEA)
Click here ⤵️ https://t.co/Zyx1jbEIuf
— Binance (@binance) July 1, 2024
Circle, the issuer of USDC and EURC, today announced that it has become the first global stablecoin issuer to achieve compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.
“This achievement was made possible by the company obtaining an Electronic Money Institution (EMI) license from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the French banking regulatory authority. With this license, both USDC and EURC are now being issued in the EU in compliance with MiCA’s regulatory obligations for stablecoins or e-money tokens, which came into effect yesterday, in accordance with today’s law and subject to potential clarifications on the interpretation of the law by the European Commission.”
The company highlighted that as part of achieving compliance with this comprehensive regulatory regime, Circle Mint is now officially available to business customers in Europe.
Cardano anticipates update of MiCA compliance indicators
In a recent development that demonstrates the strategic actions towards its commitment to regulatory compliance and sustainability, the Cardano Foundation, in collaboration with the Crypto Carbon Ratings Institute (CCRI), has released an update of its compliance metrics for the upcoming Markets in Crypto-Assets (MiCA) regulation in the European Union. The report was released on July 2.
The move was implemented early, six months ahead of the regulatory timeline. The move strengthened Cardano’s position in the market and set a new standard for the cryptocurrency industry.
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Source: https://portalcripto.com.br/binance-defende-stablecoin-usdc-compativel-com-regulamentacao-mica/
