The Breakdown Circle Becomes First European Licensed Stablecoin Issuer
Jul 3, 2024
The podcast delves into Circle becoming the first European licensed stablecoin issuer under MiCA rules, avoiding potential stablecoin-crypto trading issues. It also touches on Silvergate's settlement over anti-money laundering concerns. Other topics include SEC allegations, prediction markets, global crypto funds, SEC responses to Ethereum ETF issuers, ETH ETF speculations, Bitcoin price trends, and liquidity analysis.
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Circle's European License
- Circle becomes the first licensed stablecoin issuer in Europe under MiCA regulations.
- This licensing allows them to offer both USD and EUR-backed stablecoins, potentially impacting European crypto trading.
Tether CEO's MiCA Critique
- Tether's CEO, Paolo Ardoino, criticizes MiCA for requiring cash reserves in domestic banks.
- He argues this makes EU-licensed stablecoins vulnerable.
Silvergate Settlement
- Silvergate Bank settles charges with regulators, paying $63 million in fines.
- The bank allegedly failed to maintain proper anti-money laundering practices.