CIrcle chooses France to be its European headquarters

Circle, the issuer of the stablecoin USDC, has applied for regulatory approval in France and said it intends to establish its European headquarters in Paris.

The crypto-friendly stance of the French government has attracted Circle to set up a European headquarters in the nation. The USDC issuer announced that it is seeking approval from the French regulator Autorité des Marchés Financiers (AMF) to become a Digital Asset Service Provider (DASP).

France has ambitions to become a Web3 hub

“We are delighted and honored that Circle has chosen France as the base for the development of its activities in Europe,” said Jean-Noël Barot, Minister Representative of the Ministry of Finance. This decision has been made since 2017 by President Macron and Minister Bruno With the strong leadership of Le Maire, Web3 fully validates France’s ambitions to become a center for technologies.

While Circle co-founder Jeremy Allaire says, “France’s comprehensive efforts towards innovation-forward crypto regulation are commendable and align closely with Circle’s vision for the future of the digital payments sector.”

America helping to build France’s future?

Once Circle gets the AMF registration, it will become the first company to have a full registration under the DASP regime.

Once the Market in Crypto Assets (MiCA) bill is in place, full registration will be mandatory for crypto companies in France. The draft of the EU MICA law is expected to be released by April 17.

BeInCrypto has reached out to Circle but has not yet received a response.

While the US is in a crypto mode, France envisions to be a crypto hub. One Twitter user sarcastically said that America is helping to build France’s future.