USDC Stablecoin Obtained Special Status under MiCA

Published: October 15, 2026 – 08:06 UTC

USDC has received a new status in the EU.
The EBA has classified the stablecoin as a significant token.
From November 12, the asset will move under enhanced supervision in Europe.

The European Banking Authority (EBA) has classified Circle’s USDC stablecoin as the first significant e-money token (EMT) in the European Union under the MiCA regulation.

The decision was made after an assessment of the significance criteria set out in EU law, and from November 12, 2026, the stablecoin will come under dual supervision by the EBA and the French regulator — the Autorité de contrôle prudentiel et de résolution (ACPR).

At present, 45 e-money tokens are registered in the EU under MiCA. USDC became the first of them to receive significant status, which entails stricter requirements for oversight of reserves and the issuer’s financial resilience.

How Oversight of USDC Will Change

After the new status takes effect, the EBA will assume part of the supervisory powers that currently belong to the ACPR. In particular, this includes oversight of:

The issuer’s own funds
Asset reserves
Liquidity requirements
Recovery plans and token redemption

The ACPR will continue to be responsible for corporate governance, qualifying holdings, fit-and-proper assessments of managers, as well as outsourcing and conflicts of interest. The EBA and the French regulator will work together to ensure a smooth transition to the new supervisory framework.

In the EU, USDC is issued by Circle Internet Financial Europe SAS, and in the US — by Circle Internet Financial, LLC. To strengthen oversight of cross-border stablecoin activity, the EBA has also signed a memorandum of understanding with the New York State Department of Financial Services. The document is intended to facilitate information sharing and cooperation between regulators.

What Significant Token Status under MiCA Means

The EBA is responsible for designating significant e-money tokens and asset-referenced tokens (ARTs) under Articles 43 and 56 of MiCA. The regulator assesses each year whether tokens meet the significance criteria.

Under Article 117 of MiCA, issuers of significant EMTs are subject to dual supervision by the EBA and the relevant national regulator. For significant ARTs, EBA supervision is предусмотрено.

Earlier, in October 2026, a consortium of 37 European banks led by Qivalis received an electronic money institution license from the Dutch central bank to prepare its own euro-pegged stablecoin. Before launch, the company still needs to meet MiCA requirements, including publishing a white paper.

Сообщение USDC Stablecoin Obtained Special Status under MiCA появились сначала на INCRYPTED.

Source: Incrypted