Circle said no euro-denominated "e-money token," including its EURC stablecoin, has reached the framework's proposed market cap threshold for use in settlement.
Stablecoin issuer Circle has urged the European Commission to lower the barrier for institutions to engage with crypto-asset service providers in response to parts of its proposed Market Integration Package — a broad policy initiative aimed at strengthening capital markets in Europe.
In a statement on Monday, Circle said the Commission’s MIP proposals represent a “meaningful step toward a digitally enabled financial system” but also outlined several areas for improvement.
Those included reforming the DLT (distributed ledger technology) Pilot Regime and scaling what the Commission describes as e-money tokens (EMTs) by permitting more crypto-asset service providers to operate. Circle said it submitted its feedback to the Commission on March 20.
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