Circle’s Head of Policy advocates for MiCA broadening crypto regulations

The head of the global policy of Circle, Dante Départe, thinks that cryptographic space needs more regulatory clarity in the form of executives such as European Mica.

During a cat session by the fireside at Paris Blockchain Week The World Policy Manager of TRM Labs Ari Redbord on April 8, Disapords stressed the importance of clear regulations to help bring more investors, financial institutions and stakeholders in cryptographic space.

“The regulations work. If international investors are attracted to investment not only in France, but to draw from the legal and regulatory clarity that Mica provides, which creates a legal certainty environment, “said disappeared.

Therefore, he believes Europe The best chance of “devoting what internet-based financial services and universally portable financial services may mean” through its markets in crypto-sets or Mica frame.

In fact, the circle (USDC) The representative said that his team was trying to plead for two stablecoin acts in the UNITED STATESgenius Act and stable ActTo reach the level of legal clarity that Mica is able to provide European markets.

“When you assemble them, you get a stable genius. A framework that increases mica levels so that we have transatlantic harmonization and regulatory reciprocity, as opposed to creating a breed down, even through the United States and European partnership,” said disappeared.

In addition, disappearing said that Circle Supports the decision of European regulators to assimilate stablins in accordance with Mica to an electronic currency token, in which the frame prohibits the token from generating a yield for customers who hold stable.

“We agree. We believe that the interest in the lands of Stablecoin is an innovation of the secondary market. And if you want innovation to work as indicated, if you want the goods bill to work as indicated, it must be a unit of measurement, a means of exchange and a reserve of value like a physical dollar or a physical euro, “said disappear.

Presented in June 2023, Stablecoin mica laws has caused strict regulations and standards for cryptographic companies and stablecoin issuers, one of them is a ban on providing interests or stablecoin yield.

As a result, stablecoin issuers like Tether (USDT) and Circle had to adjust their operations by complying with the laws of mica if they wish to continue to operate in European regions. In July 2024, circle became The first company of Stablecoin to obtain a license in the institution in electronic silver from French regulators, allowing them to market their stable lamps in Europe.