No more friction across chains 👇 Via Circle gateway, users can hold a balance in USDC across multiple chains and use it instantly on any supported chain, without manual movement, without relying on external liquidity, and while retaining full ownership and control.

𝐊𝐞𝐲 𝐋𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 6 𝐌𝐨𝐧𝐭𝐡𝐬 𝐨𝐟 crypto 𝐓𝐫𝐚𝐯𝐞𝐥 𝐑𝐮𝐥𝐞 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐔 𝐯𝐬 𝐔𝐊 🇪🇺 🇬🇧 The EU should reassess its approach to transfers involving third-party self-custody wallets. 🇬🇧 𝐔𝐊 • 100% of CASPs compliant by end of 2023 • 13-month runway, joint public-private guidance, regulator-led testnets • Crucially: risk-based approach to self-custody → ID checks only when necessary and high-risk ➡️ Result: Minimal disruption, full compliance, and preserved user autonomy 🇪🇺 𝐄𝐔 • Only 28.8% of CASPs compliant by mid-2025 • Main issue from my perspective: EBA guidance now requires ID checks for all third-party self-custody transfers > €1k, even when risk is low • This extends what had been agreed upon in the Level 1 law, which required ID checks (e.g., satoshi tests/message signing) only for > €1k transfers to/from self-custody wallets owned by the CASP’s own customer. • Now, CASPs are being pushed to verify the identity of someone who isn’t their customer—operationally challenging if not impossible. 🔒 The outcome? • EU CASPs are now 55% more likely to block self-custody transfers than global peers according to @notabene_id • This fuels de-risking, reduces EU CASP competitiveness, and drives users outside the regulated perimeter • Test it yourself: try sending €1k from your EU exchange to someone else’s wallet—you’ll likely be blocked I highly recommend reading @CatarinaVelos12 breakdown of how the UK and EU have approached the Travel Rule and strongly agree with her (link in comments). The EU should realign supervisory expectations with the risk-based approach originally agreed in the Level 1 text. Otherwise, the Travel Rule could end up undermining its own purpose: increasing transparency without excluding users from the regulated crypto ecosystem.

🇪🇺 Interesting new ESMA report on Maximal Extractable Value (MEV) in crypto markets Some key insights: • ~$1.1B in MEV extracted on Ethereum since the Merge (Sep 2022–Jun 2024), ~0.12% of total DEX volume • MEV spikes massively during market stress — +700% in 3 days during Aug 2024 sell-off • Arbitrage MEV yields more ($20.2M/month) than sandwiching ($16.8M/month), and at lower cost • On Solana, one private mempool ran 1.55M sandwich attacks in 30 days, earning ~$13.4M • MEV-Boost is used in 85–95% of Ethereum blocks — but may increase centralization risks • Regulatory note: MEV isn’t directly addressed under MiCA, but ESMA warns it poses risks to market fairness and transparency. In the future, crypto firms may be required to report suspicious MEV-related transactions under new reporting rules (so-called STORs, or Suspicious Transaction or Order Reports). MEV is no longer niche — it’s reshaping crypto markets and drawing increasing scrutiny from top global regulators. Link to full ESMA report in comments.

#btc finally pushes through its euro ATH. Have a good crypto week everyone 😎

Circle 🤝 @okx We are partnering with OKX to deepen @USDC liquidity and expand access to 60M+ users worldwide. Customers will now be able to easily convert between USD and USDC across OKX products and services. This partnership will provide users with more options, enhance the trading experience, and create new opportunities for individuals and businesses worldwide to seamlessly use USDC. "Demand for USDC continues from businesses and individuals eager to adopt this new form of high-utility and internet-based money.” - @jerallaire Read more:

BBVA is the first major European bank to obtain the MiCA licence

EURC for the win! Fintechs will be looking very closely at this👇

I can’t believe I missed this - EURC vibes at the Côte d’Azur hit different 😍

Let’s Make Berlin a Global Crypto Powerhouse Again 🙌 Back in 2016–2018, when I first moved here, Berlin was arguably the crypto capital of the world- with main layer 1s and core blockchain infrastructure (staking, wallets, oracles etc.) being built here. But over the years, the center of gravity shifted to other places that focused more on the application layer and institutional capital. Berlin hasn’t disappeared—it’s still a Top 10–15 crypto city globally—but it's time for a renaissance. And there’s no better moment than @BerBlockWeek to reignite the spark: I’m excited to be speaking on several panls throughout the week: 🔹 Stablecoin Day (Tonight!) Join the discussion on stablecoin architectures and use cases with @peterlih, Marco Hinz, Michael Svoboda, @Louis_Tellier , and myself. 🗓️ Event link: 🔹 Wednesday Morning at SafeCon Exploring the onchain economy with @JulianGrigo , @ernst, Alex Viñas Salles, and @0xloth. 🗓️ Event link: 🔹 Later That Day at DappCon Talking crypto regulation in 2025 and beyond with Karan Aswani, Jon Fink Isaksen, @MarinaMarkezic , and others. 🗓️ Event link: Let’s bring Berlin back to the forefront of global crypto innovation. Hope to see many of you around this week!

Safe{CON}³ SPEAKER SPOTLIGHT Circle’s @paddi_hansen speaks stablecoin adoption, MiCA, stablecoins, and EU policies that impact self-custody.