Regulation
Circle and Adan lay the foundation for MiCA
8.13am ▪ 3 minute read ▪ by Mikaia A.
Circle, a leading issuer of the USDC stablecoin, collaborates with the French association Adan to anticipate the MiCA regulatory era in Europe. This strategic alliance, concluded just days before the implementation of MiCA, marks a crucial step for Circle in its ambition to comply with new regulations while consolidating its presence in Europe.
Circle and Adan: A strategic crypto alliance for the MiCA era
Circle, a major player in digital financial services and a competitor to Circle, recently announced a strategic partnership with Adan, the Association for the Development of Digital Assets. This Association comes at a crucial time, as Europe prepares to implement the MiCA (Markets in Crypto-Assets) regulatory framework.
Coralie Billmann, general manager of Circle France, stressed that this adhesion to Adan is a logical step in the company strategyfocused on a “regulatory-first” approach.
By choosing France as its base of operations, Circle benefits from a clear and innovation-friendly regulatory contextstrengthened by a solid entrepreneurial and technological infrastructure.
This collaboration will allow Circle to more easily navigate the complex landscape of European regulationsensuring compliance and continuing to innovate.
MiCA’s impact on stablecoins
THE MiCA regulatory framework promises to transform the stablecoin market in Europeimposing stringent requirements that could disrupt the current ecosystem.
Jasper De Maere, researcher at Outlier Ventures, predicts that many stablecoins, particularly those backed by the US dollar, will struggle to comply with these new regulations.
This situation could push some companies to do so leave the European Unionthus limiting European users’ access to seamless transactions and diversified investment opportunities.
However, Circle seems well positioned face these challenges thanks to its conditional registration as a digital asset service provider (DASP) in France and its partnership with Adan.
By aligning with MiCA, Circle demonstrates its desire to remain a key player in digital asset innovation in Europe, while offering compliant and secure solutions to its users.
With its strategic partnership with Adan, Circle is actively preparing for the MiCA era, ensuring a smooth and compliant transition for the stablecoin and cryptocurrency industry in Europe.
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Mikaia A.
The blockchain and cryptocurrency revolution is underway! And on the day when the impacts are strong and the most vulnerable economy in the world is affected, against all hope, you will say that I was for what I chose
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Do your own research before making any investment decisions.