Stablecoin issuer Circle has announced that it has received conditional registration under France’s cryptocurrency laws. This marks a significant regulatory stride for the company as it aims to comply with the EU’s Markets in Crypto-Assets (MiCA) regime. Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, highlighted France’s clear rules for responsible innovation in fintech and digital assets as the reason for selecting the country as its European regulatory base.
The conditional registration means that Circle must obtain approval as a payment services provider (PSP) or register as an agent of a PSP before it can operate in France. To meet this requirement, Circle has applied for an Electronic Money Institution (EMI) license. The company believes that obtaining licensing in general will enable it to comply with the MiCA regime.
Circle has appointed Coralie Billmann to head its operations in France, pending regulatory approval. Billmann brings experience from her previous positions at 3S Money, JP Morgan, and PayPal Luxembourg. She will serve as Circle’s Europe VP and later assume the role of President of Circle France.
In related news, Coinbase, a frequent partner of Circle, also announced its regulatory status in France on the same day. Unlike Circle, Coinbase’s regulatory status appears to be finalized rather than conditional. Despite the dissolution of their joint venture, the CENTRE Consortium, Coinbase and Circle continue to maintain a strong partnership. Both companies are recognized for their role in issuing and supporting stablecoins such as USDC, which is pegged to the U.S. dollar, and EURC, which is pegged to the euro.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇫🇷 |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | Coralie Billmann, Dante Disparte |
| Companies | Autorité des Marchés Financiers (AMF), Coinbase, Electronic Money Institution (EMI), Circle, Coralie Billmann |
| Currencies | EURC, USDC |
| Securities | None |
