Circle, the issuer of USDC, has become the first stablecoin provider to comply with Canada’s new Value-Referenced Crypto Asset (VRCA) regulations.
Approved by the Ontario Securities Commission (OSC) and Canadian Securities Administrators (CSA), this ensures USDC can remain available on registered Canadian crypto platforms.
The move highlights Circle’s commitment to regulatory compliance and transparency, positioning USDC as a trusted stablecoin in Canada.
Circle CEO Jeremy Allaire noted that the achievement cements USDC as the most regulated stablecoin in the country, with ongoing discussions to enhance cross-border payment efficiency.
Globally, Circle has secured key regulatory approvals, including compliance with the EU’s MiCA framework and licensing in Singapore.
Its integration with Robinhood Crypto EU has further expanded USDC’s reach to millions of European users, reflecting its ambition to lead in stablecoin regulation worldwide.
As the cryptocurrency market continues to show signs of weakness, many traders are looking for ways to minimize losses and stay profitable.
A roundtable event focused on cryptocurrency regulations is set to take place on Friday, March 21, with industry leaders convening for discussions with the SEC’s cryptocurrency Task Force.
Before stepping into his role as the Trump administration’s key advisor on artificial intelligence (AI) and cryptocurrency, David Sacks divested a substantial portion of his investments tied to digital assets.
MoonPay, a leading Web3 infrastructure provider, has expanded its capabilities with the acquisition of Iron, a developer specializing in stablecoin infrastructure.