Stablecoin issuer Circle said on Wednesday it has committed to meet tighter regulations in Canada that allows its $40 billion USDC stablecoin to continue to be listed on exchanges.
"USDC is the first stablecoin to achieve this milestone," the company said in a press statement. "Circle continues to engage with Canadian authorities in their development of a regulated market for global stablecoins, which has the potential to bring significant efficiency gains to Canadian cross-border, retail, and institutional settlement systems."
Circle's announcement happened as pressure mounts on crypto companies operating in the country to comply with stricter rules by the end of this year.
The Canadian Securities Administrators (CSA) started to roll out tighter regulations to govern digital assets last year, including guidelines for exchanges to offer so-called "Value-Referenced Crypto Assets" (VRCA) which encompasses stablecoins. In anticipation of the stricter rules, Binance exited the Canadian market, while Coinbase and Crypto.com announced to delist tokens including Tether's USDT, the largest stablecoin on the market of $135 billion capitalization, from their platforms.
The Ontario Securities Commission, member of the CSA, listed Circle Internet Financial on its website as so far the only issuer under the VRCA rules.
The deadline for exchanges to comply with stablecoin listing standards is Dec. 31, 2024.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。