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- เผยแพร่เมื่อ 4 ต.ค. 2024
- Circle’s USDC and EURC stablecoins become the first fully compliant digital fiat tokens under the Markets in Crypto-Assets rules.
On July 1, Jeremy Allaire, co-founder and CEO of Circle, announced that the firm became the first global stablecoin issuer to gain regulatory approval under the European Union's sweeping Markets in Crypto-Assets (MiCA) regulatory framework.
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A lot of what people don't know is the MiCa requires Circle to put 30% of their reserves into multiple banks in the EU which largely introduces a looooooooot of risk from banks. Even Circle themselves have said that that requirement give them credit and counterparty risk. And don't forget that Circle has a history with poor choices of choosing banks with them depegging in the past because of putting their reserves in SVB.
And also , Circle Mint France will issue the euro-denominated EURC stablecoin and USDC in the European Union in compliance with MiCA.
The license gives the company, whose USDC trails behind rival Tether's market-leading USDT, pole position in grabbing market share among the 27-nation trading bloc's 450 million people
Who did they have to pay to look the other way so no one will check their fake reserves for those stablecoins? 🤔
See what will happens later.