EBA Designates USDC EU’s First Significant E-Money Token
The European Banking Authority designated USDC the EU’s first significant e-money token under MiCA. From November 12, the EBA takes direct responsibility for supervision of Circle’s euro-area issuing entity.
The European Banking Authority has classified USDC as the EU’s first significant e-money token under MiCA. The designation brings an additional level of supervision for Circle’s euro-area issuing entity. The classification was announced on October 14. The EBA is set to assume direct responsibility from November 12.