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Two years into MiCA, Circle has told the European Commission that the regulation's reserve requirements are too rigid, proposing changes to bank deposit ratios, bond concentration limits and counterparty caps.
Binance is investing $100 million in Circle and has signed a five-year commercial agreement to expand the integration and promotion of USDC, with a particular focus on emerging markets.
Binance has taken a $100 million equity position in Circle Internet Group through a private placement, alongside a five-year renewal of their commercial deal to expand USDC distribution.
A working paper by former ECB official Ulrich Bindseil and Circle's Patrick Hansen says MiCA's circulation conditions are isolating EU stablecoin holders from the dollar-dominated global market, and proposes an equivalence regime with regimes such as the US GENIUS Act.