Policy · Updated 15 Oct, 09:46 pm IST
EU names Circle’s USDC first ‘significant’ e‑money token under MiCA
Why it matters for readers: It explains that a major stablecoin will now be monitored by EU regulators to ensure it keeps enough reserves and lets people redeem it.
- The EBA announced on October 14 that USDC is the first of 45 notified e‑money tokens to be labelled “significant” under MiCA.1
- As a significant e‑money token, USDC will fall under EBA oversight starting November 12, 2026.1
- Supervision of USDC will be shared between the EBA and France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR).1
- The designation covers oversight areas including USDC’s reserves and protections for redemptions, per MiCA rules.1
- USDC is issued by Circle through different legal entities in the US and EU, with Circle Internet Financial Europe SAS as the EU issuer.1
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