Circle Says USDC Is First Stablecoin To Meet Canada’s New Listing Rules

Circle, the issuer of the stablecoin, announced that its US dollar-pegged token is the first to comply with upcoming listing regulations set by Canada's securities regulator. This compliance allows it to remain listed on licensed crypto trading platforms in 2025. Circle USD (USDC) met all the requirements of the Canadian Securities Administrators' (CSA) Value-Referenced Crypto Asset (VCRA) regime, as per a statement on Dec. 4.

Any stablecoins on Canadian-registered crypto platforms must comply with CSA regulations by Dec. 31 or face delisting. Circle also achieved full compliance with the Ontario Securities Commission.

The company, led by Jeremy Allaire, aims for its Circle USD stablecoin to enhance cross-border payments and Canada's retail and institutional settlement systems.

Benefits include cheaper settlement of transactions, increased consumer protection, reduced settlement risk, and heightened competition in payments.

Trump’s crypto czar is Solana bull and Multicoin Capital investor

Former PayPal executive David Sacks, recently appointed as the “White House A.I. & Crypto Czar” by U.S. President-elect Donald Trump, is a prominent supporter of Solana and an investor in the crypto investment firm Multicoin Capital.

Sacks, who previously served as PayPal's operating chief and is now a co-host of the All-In business and technology podcast, was officially appointed by Trump on December 5. Beyond his interests in cryptocurrency and artificial intelligence, the new “crypto czar” is recognized as a significant investor in Solana and other crypto-related ventures.

In October 2021, Sacks publicly revealed that he held substantial amounts of Solana, purchased at a discount, during the 50th episode of All-In.

He described SOL as the “biggest turnaround” in late 2023, noting that he did not sell SOL after the collapse of FTX, which had significant exposure to Solana.

Yuga Labs acquires Tokenproof tech team for NFT R&D

Yuga Labs, the blockchain firm known for the Bored Ape Yacht Club (BAYC) and ApeCoin NFT collections, has acquired the technology team from Tokenproof, a Web3 tokenization service.

On December 3, Tokenproof's founder and CEO, Fonz O, announced that Yuga Labs had taken over Tokenproof’s technology and integrated some of its team members.

Fonz O mentioned that Tokenproof developed a system to verify NFT ownership in the real world and has partnered with Yuga Labs multiple times since 2022.

Greg Solano, co-founder of Yuga Labs, highlighted the enduring partnership with Tokenproof, stating, ''Together with Tokenproof, we solved numerous complex issues, enabling your monkey jpeg to grant you access securely and efficiently to a festival anywhere in the world.''