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

      PANews reported on October 15 that, 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 e-money token (EMT) under the Markets in Crypto-Assets Regulation (MiCA). A total of 45 EMTs have currently completed notification under MiCA in the EU, and USDC is the first token to be designated as a significant EMT.

      Starting November 12, 2026, prudential supervisory responsibilities for USDC's 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 supervise 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 supervisory cooperation.


      Source: PANews
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