On July 1, Jeremy Allaire, co-founder and CEO of Circle, announced that the company became the first stablecoin issuer in the EU to receive regulatory approval under the extensive MiCA regulatory framework. 🎉

USDC and EURC Circle are now compliant with the new rules, easing investor concerns about having to trade their stablecoins or transfer funds into other digital assets.

Allaire also announced that Circle has chosen France as its European headquarters, noting France's progressive approach to digital asset regulation.

In anticipation of EU regulatory changes, several exchanges have announced changes to their stablecoin policies. Uphold delisted six stablecoins, including Tether (USDT), Dai (DAI), TrueUSD (TUSD), Gemini dollar (GUSD), Pax dollar (USDP) and Frax Protocol (FRAX). Bitstamp followed suit by delisting Tether's stablecoin EURT. Binance has taken a softer approach, employing a sell-only strategy for certain stablecoin products in the European market.