USDC issuer Circle is applying for a French digital asset service provider license and an electronic money institution license. A Circle spokesperson said that if the application is successful, Circle will be able to provide its products to French customers and provide the euro stablecoin EUROC locally, thereby expanding its European business. It is understood that registration requires the company to undergo inspections of governance and money laundering protocols. Circle also stated that it hopes EUROC will comply with the EU's Crypto Asset Market (MiCA) regulations. It requires any issuer of a cryptocurrency pegged to a fiat currency to hold reserves and sets a cap on transactions in cryptocurrencies that are matched with foreign currencies such as the US dollar. (The Block)
