Circle Presses UK to Merge MiCA with US Stablecoin Standards

- Circle’s Dante Disparte advocates a uniquely British regulatory framework integrating MiCA and US stablecoin principles. - The proposal seeks to solidify the UK’s status as a global financial hub while addressing offshore risks. On March 18, 2026, CoinTelegraph reported on a House of Lords Financial Services Regulation Committee hearing where Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, urged UK lawmakers to establish a "distinctly British" cryptocurrency regulatory model. Disparte proposed combining the European Union’s Markets in Crypto-Assets (MiCA) framework with the principles of the United States' GENIUS Act for stablecoins, arguing this hybrid approach would reinforce the UK’s reputation as a global financial leader while mitigating risks like offshore activity and insufficient consumer protections. Warning that without clear regulations, stablecoin businesses could move offshore and leave UK users vulnerable to greater risks, Disparte outlined four fundamental principles for ensuring trusted stablecoins. These include maintaining a 1-to-1 reserve backing, using high-quality liquid assets, guaranteeing enforceable redemptions, and upholding stringent transparency standards. In addition, he addressed concerns that stablecoins could threaten traditional bank deposits, arguing that well-regulated stablecoins would expand financial markets, not diminish them. The session was part of an ongoing inquiry into the regulation and integration of stablecoins within the UK’s financial ecosystem. Meanwhile, Jesse McWaters of Mastercard also contributed during the hearings, sharing insights into stablecoin adoption and regulatory alignment. According to market data, USD Coin (USDC) was trading at $1 as of March 18, 15:08 UTC, with its 24-hour trading volume up by 0.014%.