EU Banking Authority Labels Circle’s USDC as ‘First Significant E-Money Token‘

EU Banking Authority Labels Circle’s USDC as ‘First Significant E-Money Token‘

Only 45 other offerings have been classified as e-money tokens under the EU’s Markets in Crypto Assets frameworks, with USDC being the first labeled as “significant.“

USDC Gets Significant EMT Status: EBA Oversight From Nov 12

The European Banking Authority has classified Circle’s USDC as the European Union’s first significant e-money token under MiCA, moving key parts of the $74 billion stablecoin’s supervision from France’s banking regulator to the EBA and subjecting Circle to stricter prudential requirements.The designation takes effect on November 12. From that date, the EBA will directly oversee USDC in areas including own funds, reserve assets, liquidity require…

EU authority classifies Circle’s USDC as ‘significant’ under MiCA - Invest In Crypto News

The second-largest stablecoin by market cap will be overseen by French and EU authorities under its classification as a “significant e-money token.“ Source link

EU Banking Regulator Takes Over Key Oversight of Circle’s USDC Stablecoin

The European Banking Authority (EBA) classified Circle's USDC as a significant e-money token under the Markets in Crypto-Assets Regulation (MiCA) today (Wednesday). It is the first of the 45 e-money tokens notified in the European Union to receive the label.From November 12, the EBA will directly supervise USDC's own funds, reserve of assets, liquidity and recovery and redemption plans. Those tasks move from France's Prudential Control and Resol…

EBA Names USDC the EU’s First ‘Significant’ E-Money Token

USDC becomes the EU’s first significant e-money token under MiCA, bringing stricter financial safeguards and dual EBA-ACPR supervision from Nov. 12.