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Circle says USDC is first stablecoin to meet Canada’s new listing rules

Circle says USDC is first stablecoin to meet Canada’s new listing rules

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Source: Coin Telegraph

Non-compliant stablecoins listed on Canadian-registered crypto platforms will be required to be delisted by Dec. 31, 2024.

Stablecoin issuer Circle says its United States-dollar pegged token has become the first of its kind to comply with incoming listing rules set out by Canada’s securities regulator — allowing it to continue to be listed on licensed crypto trading platforms in 2025.

Circle USD (USDC) met all requirements laid out in the Canadian Securities Administrators’ (CSA) Value-Referenced Crypto Asset (VCRA) regime, the firm said in a Dec. 4 statement.

A VRCA is a crypto asset that is designed to maintain a stable value over time by referencing the value of a fiat currency or any other value or right, or combination thereof.

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Author: Brayden Lindrea