The Markets in Crypto-Assets Regulation (MiCA), implemented by the European Union as the first comprehensive regulatory framework for crypto-assets and stablecoins, has gained significant traction since its introduction a year ago, with major players like Circle achieving compliance and witnessing growth in their euro-backed stablecoin, EURC. MiCA's enforcement has brought much-needed clarity and trust within the EU market, encouraging more crypto asset service providers and financial institutions to obtain licenses, thereby fostering innovation and market integrity. Circle has expanded its European presence, leveraging its French EMI license for broader EU operations, and emphasizes the importance of global regulatory alignment to prevent fragmentation and promote the benefits of stablecoins and blockchain technologies. As other regions like the U.S. and U.K. develop their own frameworks, MiCA serves as a pioneering model for coherent and interoperable standards in the crypto landscape, with Circle committed to supporting cross-jurisdictional collaboration.