A company that is changing the way the world mines bitcoin

The Daily Hodl 2024-12-06 17:55:41

USDC Becomes First Stablecoin To Gain Compliance With New Canadian Crypto Asset Requirements

Circle announced this week that USDC became the first stablecoin to gain compliance with new Canadian digital asset regulations. Canada’s new regulations call for delisting noncompliant stablecoins after December 31st. Circle’s compliance means USDC, which aims to maintain a 1:1 peg with the US dollar, can trade on crypto exchanges in the Canadian market, according to a new press release . Dante Disparte, chief strategy officer and head of global policy at Circle, says the new development underscores the stablecoin issuer’s regulatory efforts. “The Canadian Securities Administrators’ proactive approach in providing a digital asset regulatory framework reinforces the integrity of digital asset markets, while ensuring continued reliance on USDC across Canada’s burgeoning ecosystem.” The announcement comes as Circle launched a new wave of layoffs, Bloomberg reports . A company spokesperson tells the news outlet the downsizing was routine and represented less than 6% of the firm’s workforce. “Circle regularly reviews our investments and expenses. This includes investing in teams and operational infrastructure that need to grow, while marginally reducing spend and some roles in other areas of the business.” This summer, USDC and Circle’s euro-pegged stablecoin EURC also achieved compliance with the European Union’s Markets in Crypto Assets (MiCA) regulations. MiCA is upcoming EU legislation that will provide rules covering the supervision, consumer protection and environmental safeguards of crypto assets. The law includes measures that aim to reduce financial crimes including market manipulation, money laundering and terrorist financing, and it places stablecoin issuers under the European Banking Authority while requiring them to hold sufficient liquid reserves. It’s also scheduled to take effect in December 2024. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post USDC Becomes First Stablecoin To Gain Compliance With New Canadian Crypto Asset Requirements appeared first on The Daily Hodl .

Наиболее читаемые новости

LBank Bullrise Konnect 2024: Unlocking Digita...
2024-12-27
Reduced AI spending could dent prospects for...
2024-12-27
GMT Price Defies Crypto Market Slump, Targets...
2024-12-27
Montenegro Signs Extradition Order For Do Kwo...
2024-12-27
Bitcoin Reserves On Binance Fall To Level Tha...
2024-12-27
XRP Shows Signs of Recovery, Potentially Appr...
2024-12-27
Raoul Pal Predicts Significant Movement in Et...
2024-12-27
KULR’s Bold Move to Bitcoin Pays Off: Stock S...
2024-12-27

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения