Circle Becomes the First Licensed Stablecoin Issuer Under MiCA

Krutika Adani

EU Regulators Recognize Circle

In a significant move, the European Union has recognized Circle as the first registered stablecoin issuer within Europe.

History’s First Lawfully Recognized Stablecoin

With this registration, Circle has become the first ever lawfully recognized stablecoin.

What Does It Mean?

A MiCA recognition means that Circle can now freely mint stablecoins without worrying about legal repercussions. Also, as a first mover, it has a massive opportunity and virtually a competition-free market.

Why Is the Mica Recognition So Significant

MiCA rules apply to the entire European Union, a major market for cryptocurrency and Web3. With a single MiCA license, a company gains free access to all the countries under the EU.

EU Exchanges Delist Major Stablecoins

In June, several exchanges began emailing their EU-based customers to inform them that they were delisting all major stablecoins except USDC, including USDT, TUSD, Gemini Dollar, and Frax Dollar.