The European Banking Authority has designated USDC as the first significant e-money token under MiCA.

PANews October 15 news: According to the official website of the European Banking Authority (EBA), the EBA has designated USDC, issued by Circle Internet Financial Europe SAS, as a significant electronic money token (EMT) under the Markets in Crypto-Assets Regulation (MiCA). Currently, a total of 45 EMTs in the EU have completed notification under MiCA, and USDC is the first token to be designated as a significant EMT. Starting from November 12, 2026, prudential supervisory responsibilities for USDC, including own funds, reserve assets, liquidity requirements, and recovery and redemption plans, will be transferred from the French Prudential Supervision and Resolution Authority (ACPR) to the EBA, while the ACPR will continue to be responsible for supervision in areas such as corporate governance, qualifying holdings, outsourcing, and conflicts of interest.

PANews October 15 news: According to the official website of the European Banking Authority (EBA), the EBA has designated USDC, issued by Circle Internet Financial Europe SAS, as a significant electronic money token (EMT) under the Markets in Crypto-Assets Regulation (MiCA). Currently, a total of 45 EMTs in the European Union have completed notification under MiCA, and USDC is the first token to be designated as a significant EMT.

Starting from November 12, 2026, prudential supervisory responsibilities for USDC, including own funds, reserve assets, liquidity requirements, and recovery and redemption plans, will be transferred from the French Prudential Supervision and Resolution Authority (ACPR) to the EBA, while the ACPR will continue to be responsible for supervision in areas such as corporate governance, qualifying holdings, outsourcing, and conflicts of interest. In addition, the EBA has signed a memorandum of understanding with the New York State Department of Financial Services (NYDFS) to strengthen cross-border stablecoin regulatory cooperation.