Circle: USDC is the first to comply with Canadian listing regulations… Meets all requirements

Stablecoin issuer Circle has announced that its US Dollar-backed token has become the first to comply with new initial listing rules established by a Canadian securities regulator.
Circle said in a statement on the 4th that its USDC will be a Value-Referenced Cryptocurrency (VCR) as defined by the Canadian Securities Administrators (CSA).
VRCA is a cryptocurrency that is linked to fiat currency or other value, rights, or a combination of these, and can be used to purchase crypto assets over time.
This means that Circle's stablecoin could be listed as a licensed cryptocurrency trading platform in Canada as soon as 2025.
The CSA has mandated that all stablecoins listed on Canadian-registered cryptocurrency platforms will be able to continue to be listed on the platform by December 31, 2024.
Circle said it would be delisted if it did not comply with regulations by 2021.
Jeremy Allaire said that the company is fully compliant with the regulations of the U.S. Food and Drug Administration (FDA) and the U.S. Food and Drug Administration (FDA).
Circle, led by Ethereum Allaire, said: "USDC stablecoin will be used for cross-border payments and cryptocurrency."
"We expect this to contribute to making India's retail and institutional payments systems more efficient," he said. "This will help reduce payment transaction costs, enhance consumer protection, reduce payment risks, and improve payment markets."
"This includes increased market competition."