USDC issuer Circle seeks regulatory approval in France amid US banking troubles

Mar. 21, 2023

By Oluwapelumi Adejumo

Circle said the Euros-pegged stablecoin EUROC could become a compliant e-money under Europe's Markets in Crypto-Assets (MiCA) regulations.

USD Coin (USDC) issuer Circle has applied to become a licensed Electronic Money Institution and a registered Digital Asset Service Provider (DASP) in France — expanding its operations in Europe.

In a March 21 statement, the stablecoin issuer added that registering with the authorities would allow its Euros-pegged stablecoin Euro Coin (EUROC) to become a compliant e-money under Europe’s Markets in Crypto-Assets (MiCA) regulations.

Circle said its application is subject to the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and Autorité des Marchés Financiers (AMF). According to the crypto firm, approval from the AMF would make it the first company to receive full authorization under the DASP regulatory regime.

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