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Bitget2024/07/02 05:03

By:Bitget

Circle Snags First Stablecoin License Under EU's New MiCA Crypto Rules

Circle became the first global stablecoin issuer to secure an Electronic Money Institution (EMI) license, a prerequisite to offering dollar- and euro-pegged crypto tokens in the European Union (EU) under the Markets in Crypto Assets (MiCA) regulatory framework.

The license gives the company, whose USDC trails behind rival Tether's market-leading USDT, pole position in grabbing market share among the 27-nation trading bloc's 450 million people.

Stablecoins are a key piece of infrastructure in the digital asset market, facilitating trading on exchanges and, increasingly, used for transactions and remittances. Circle's $32 billion USDC is the second-largest stablecoin and the gap to market leader Tether's $110 billion USDT has been widening. Armed with a license from the French banking regulatory authority, Circle Mint France will “onshore” the issuance of its euro-denominated EURC stablecoin to the EU and issue USDC from the same entity, the company said.

Source: CoinDesk

Futures Market Updates

Bitcoin prices neither shoot up as expected nor fell too low, causing liquidations on both sides.

Bitcoin Futures Updates

Total BTC Open Interest: $32.83B (-0.32%)

BTC Volume (24H): $36.87B (-14.62%)

BTC Liquidations (24H): $10.47M (Long)/$12.95M (Short)

Long/Short Ratio: 49.86%/50.14%

Funding Rate: 0.0033%

Ether Futures Updates

Total ETH Open Interest: $15.08B (-0.79%)

ETH Volume (24H): $14.85B (-7.75%)

ETH Liquidations (24H): $13.03M (Long)/$7.19M(M(Short)

Long/Short Ratio: 48.46%/51.54%

Funding Rate: 0.0073%

Top 3 OI Surges

1000APU: $2.33M (+133.39%)

ZEN: $13.33M (+131.35%)

BAL: $12.25M (+112.72%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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The Federal Reserve's Beige Book shows little change in U.S. economic activity, with increasing divergence in the consumer market. JPMorgan predicts a Fed rate cut in December. Nasdaq has applied to increase the position limit for BlackRock's Bitcoin ETF options. ETH has returned to $3,000, signaling a recovery in market sentiment. Hyperliquid has sparked controversy due to a token symbol change. Binance faces a $1 billion terrorism-related lawsuit. Securitize has received EU approval to operate a tokenization trading system. The Tether CEO responded to S&P's credit rating downgrade. Large Bitcoin holders are increasing deposits to exchanges. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

MarsBit•2025/11/30 21:01

Mars Morning News | ETH returns to $3,000, extreme fear sentiment has passed

The central bank sets a major tone on stablecoins for the first time—where will the market go next?

The People's Bank of China held a meeting to crack down on virtual currency trading and speculation, clearly defining stablecoins as a form of virtual currency with risks of illegal financial activities, and emphasized the continued prohibition of all virtual currency-related businesses.

MarsBit•2025/11/30 21:01