EBA designates Circle’s USDC as the EU’s first 'significant' e-money token

European Banking Authority designates Circle's USDC as first significant e-money token under MiCA

The EBA classified USDC as a significant e-money token under the EU's MiCA framework, giving it direct oversight of USDC's reserves, liquidity and redemption plans starting November 12, while France's ACPR retains governance responsibilities.