Circle has applied to register as a cryptocurrency provider in France

USDC issuer Circle has applied to register as a cryptocurrency provider in France and obtain a license as an electronic currency provider, CoinDesk reported. The registration requires firms to undergo checks on governance and money laundering protocols, and Circle also said it wants its euro stablecoin EUROC to comply with the European Union’s Market in Cryptoassets (MiCA) regulations, which require issuers of any fiat-pegged cryptocurrency to hold reserves, And impose caps on transactions that match foreign currencies such as the U.S. dollar. Foresight News previously reported that the registration conditions for French cryptocurrency companies will be tightened in January 2024, and new applicants must meet additional regulations on internal controls, cybersecurity and conflicts of interest.