{"id":75927,"date":"2023-03-21T14:44:14","date_gmt":"2023-03-21T12:44:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75927"},"modified":"2025-09-10T14:27:38","modified_gmt":"2025-09-10T11:27:38","slug":"circle-applies-for-licenses-in-france","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/circle-applies-for-licenses-in-france\/","title":{"rendered":"Circle Applies for Licenses in France"},"content":{"rendered":"<p>The USDC co-issuer\u2014Circle\u2014, in France<a href=\\\"https:\/\/www.circle.com\/en\/pressroom\/circle-applies-for-regulatory-approvals-in-france-doubling-down-on-european-expansion\\\"> \u043f\u043e\u0434\u0430\u043b\u0430 \u0437\u0430\u044f\u0432\u043a\u0438<\/a> for local licences as a digital-asset service provider and an e-money institution.<\/p>\n<p>The initiative is in line with plans to<a href=\"https:\/\/u1f987.com\/en\/news\/usdc-issuer-to-build-a-global-stablecoin-network\"> expand across the European continent<\/a>.<\/p>\n<p>Circle plans to roll out its local-market flagship product\u2014the euro-denominated stablecoin<a href=\"https:\/\/u1f987.com\/en\/news\/circle-unveils-euro-pegged-stablecoin-euro-coin\"> EUROC<\/a>\u2014and begin its recognition process under the provisions of the Markets in Crypto-Assets Regulation (<a href=\"https:\/\/u1f987.com\/en\/news\/eu-council-finalises-mica-bill-text\">MiCA<\/a>).<\/p>\n<p>In February 2023, France<a href=\"https:\/\/u1f987.com\/en\/news\/france-tightens-rules-for-registering-crypto-companies\"> tightened the registration rules<\/a> for cryptocurrency companies. Under the changes, applicants must comply with internal-control and cybersecurity standards and have a system for managing conflicts of interest.<\/p>\n<p>Earlier, representatives of the stablecoin issuers\u2014the Circle and Coinbase\u2014<a href=\"https:\/\/u1f987.com\/en\/news\/circle-and-coinbase-accuse-banks-of-destabilising-the-cryptocurrency-market\"> accused<\/a> American banks of destabilising the crypto markets.<\/p>\n<p>On 11\u201312 March there was a sharp deviation of USDC from parity after<a href=\"https:\/\/u1f987.com\/en\/news\/usdc-loses-peg-to-the-dollar-amid-svb-collapse\"> reports<\/a> that Circle held part of the asset&#8217;s backing reserve at SVB ($3.3 billion). The company said immediately that it was using corporate funds and external capital <a href=\"https:\/\/u1f987.com\/en\/news\/circle-promises-to-cover-any-shortfall-in-backing-for-usdc\"> to support the stablecoin.<\/a><\/p>\n<p>The situation normalised after<a href=\"https:\/\/u1f987.com\/en\/news\/us-rescue-saves-svb-and-signature-bank-depositors-stablecoins-narrow-the-depegging\"> banking regulators&#8217;<\/a> decision to rescue the bank&#8217;s depositors.<\/p>\n<p>From 10 to 15 March, Circle reduced the USDC supply by<a href=\"https:\/\/u1f987.com\/en\/news\/circle-trims-usdc-supply-by-4-5-billion-coins-in-five-days\"> 4.5 billion coins<\/a>.<\/p>\n<p>In November 2021, the company announced the launch of a &#8216;stablecoin&#8217;<a href=\"https:\/\/u1f987.com\/en\/news\/circle-to-launch-stablecoin-pegged-to-the-japanese-yen\"> pegged to the Japanese yen<\/a> via its venture arm <a href=\"https:\/\/u1f987.com\/en\/news\/circle-launches-fund-to-invest-in-attractive-crypto-projects\">Circle Ventures<\/a>. In June 2022, Japan&#8217;s parliament passed a bill that<a href=\"https:\/\/u1f987.com\/en\/news\/japan-passes-law-recognising-stablecoins-as-digital-money\"> recognised stablecoins as digital money<\/a>. It will come into force one year after approval.<\/p>\n<p>A year later, Circle<a href=\"https:\/\/u1f987.com\/en\/news\/usdc-and-usdp-issuers-obtain-licences-to-operate-in-singapore\"> obtained a licence<\/a> to issue &#8216;stablecoins&#8217; in Singapore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The USDC co-issuer\u2014Circle\u2014applied in France for local licences as a digital-asset service provider and an e-money institution.<\/p>\n","protected":false},"author":1,"featured_media":75928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1220,134,36],"class_list":["post-75927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-circle","tag-france","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75927"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75927\/revisions"}],"predecessor-version":[{"id":75929,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75927\/revisions\/75929"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75928"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}