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USDC<\/a>-issuer Circle has rolled out a new compliance tool designed to help companies build on-chain.<\/p>\n The \u201cCompliance Engine\u201d will automatically integrate with Circle\u2019s programmable smart wallets designed for developers, says Jeremy Allaire<\/a>, the firm\u2019s chief executive.<\/p>\n \u201cWe\u2019ve built up tremendous capabilities in this area over the past decade, and we\u2019re now taking those capabilities and exposing them to developers and operations teams that are building financial applications on-chain.<\/em><\/p>\n This includes our new Transaction Screening tool to detect risky and suspect transactions, our Transaction Monitoring tool to help identify potential high-risk behaviors and our new Travel Rule service, which helps companies maintain compliance with global travel rule requirements for large onchain transactions.\u201d<\/em><\/p>\n This summer, USDC and Circle\u2019s euro-pegged stablecoin EURC<\/a> achieved compliance<\/a> with the European Union\u2019s Markets in Crypto Assets (MiCA) regulations.<\/p>\n MiCA is upcoming EU legislation that will provide rules covering the supervision, consumer protection and environmental safeguards of crypto assets.<\/p>\n The law includes measures that aim to reduce financial crimes including market manipulation, money laundering and terrorist financing, and it places stablecoin issuers under the European Banking Authority while requiring them to hold sufficient liquid reserves. It\u2019s scheduled<\/a> to take effect in December 2024.<\/p>\n USDC aims to maintain a 1:1 peg to the US dollar and is the second-largest stablecoin with a market cap of $36.06 billion at time of writing.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span> USDC-issuer Circle has rolled out a new compliance tool designed to help companies build on-chain. The \u201cCompliance Engine\u201d will automatically integrate with Circle\u2019s programmable smart wallets designed for developers, says Jeremy Allaire, the firm\u2019s chief executive. \u201cWe\u2019ve built up tremendous capabilities in this area over the past decade, and we\u2019re now taking those capabilities and […]<\/p>\n","protected":false},"author":2,"featured_media":93372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-356603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/356603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=356603"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/356603\/revisions"}],"predecessor-version":[{"id":356609,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/356603\/revisions\/356609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/93372"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=356603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=356603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=356603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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