Dubai Financial Services Authority Approves USDC, EURC as First Regulated Stablecoins

BlockBeats News, February 25th, according to Cointelegraph, the Dubai Financial Services Authority (DFSA) has officially approved Circle's stablecoins USD Coin (USDC) and EURC as recognized tokens, becoming the first batch of approved stablecoins under this regulatory framework. The new regulation will allow businesses within the Dubai International Financial Center (DIFC) to use these two stablecoins in various digital asset applications such as payments and fund management. Since its establishment in 2004, DIFC has attracted nearly 7,000 active businesses and strictly only allows operation with recognized cryptocurrency tokens.