✓ Verified by 2+ outlets USDC
EU regulators label Circle's USDC the first 'significant' e-money token under MiCA
Summary
The European Banking Authority has classified Circle's USDC as a “significant” e-money token under the EU's MiCA rules, according to Cointelegraph and The Block, which said it is the first token to get that label.
Cointelegraph said the classification means USDC, the second-largest stablecoin by market cap, will be overseen by French and EU authorities.
The Block reported that the new supervisory responsibilities begin Nov. 12.
Key facts
- USDC is the EU's first “significant” e-money token.
- New supervisory responsibilities begin Nov. 12.
- USDC will be overseen by French and EU authorities.