Stablecoin issuer Circle said its U.S. dollar-pegged token has become the first of its kind to comply with upcoming listing rules set by Canada’s securities regulator, allowing it to continue listing on licensed cryptocurrency trading platforms in 2025.
Circle’s USD Coin (USDC) meets all of the requirements set out in the Canadian Securities Administrator’s (CSA) Value-Linked Crypto Asset (VCRA) regime, the company said in a statement on Dec. 4.
VRCA is a cryptoasset designed to maintain a stable value over time by being linked to the value of fiat currency or another value or right, or a combination of both.
Any stablecoins listed on Canadian-registered crypto platforms must be delisted if they fail to comply with the CSA’s requirements by the Dec. 31 deadline.