Circle Secures First Approval Under Canada’s New Stablecoin Regulations

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.