The EU issues 53 MiCA licenses, marking a significant development in cryptocurrency regulation.
Europe leads in crypto banking as US crypto policies pose challenges, with strong support from crypto-friendly banks.
EU banking regulations offer crypto firms a competitive advantage over U.S. counterparts, as per Circle's Patrick Hansen's analysis. The clarity in European regulations helps create a more crypto-friendly banking environment.
Circle's Euro-pegged stablecoin EURC has reached a market cap of over €50 million, seeing a 36% issuance increase after its launch on Base, a Coinbase incubated platform.
Circle's Policy Head, Patrick Hansen, addressed and disproved recent rumors about an EU-wide crypto asset registry, clarifying the situation and easing concerns.
Patrick Hansen, Circle's Policy Lead, warns against misinformation about an EU asset registry for cash and crypto.
Circle's USDC stablecoin faces challenges with European MiCA regulation, requiring 30% reserves in EU banks, leading to credit and counterparty risks.
Patrick Hansen from Circle is optimistic about the growth of Euro-based stablecoins after MiCA regulations take effect in two weeks. Currently, Euro stablecoins account for 1.1% of transactions.
Crypto growth contrasts with DeFi's stagnation, as DeFi's Total Value Locked (TVL) remains unchanged for three years. Circle's Patrick Hansen proposes a radical overhaul of the sector for revitalization.