The New York City-based issuer of the second-largest stablecoin by market capitalization is the only company so far to submit an agreement to follow Canadian regulators’ standards in advance of a Dec. 31 deadline. Canadian crypto-trading platforms may be forced to delist non-compliant stablecoins in 2025. (The Logic)

Talking point: Canadian securities regulators’ assertion that stablecoins—crypto assets whose value is typically pegged to the U.S. dollar—fall under their jurisdiction has been a major point of contention with Canada’s crypto sector. Circle has signalled it’s willing to play by their rules, another win for regulators’ crackdown on crypto. Wealthsimple chief legal officer Blair Wiley posted on X that Circle’s registration is “a real head-scratcher” and amounts to an admission that USDC is a security. Circle’s agreement with Canadian regulators states that it is very much not admitting that, but “will not contest” their jurisdiction.