Switch to seedless. Get 30% off with SWITCH30 till Oct 21USDC named EU’s first ‘significant’ e-money token by EBA
6.8 Regulation The EBA has named USDC the EU’s first ‘significant’ e-money token under MiCA, shifting key supervision from France’s ACPR to the EBA starting November 12, 2026.
The European Banking Authority (EBA) has designated Circle's USDC stablecoin as the first 'significant' e-money token under the EU's Markets in Crypto-Assets Regulation (MiCA). Out of 45 e-money tokens notified in the EU, USDC is the first to achieve this status. Starting November 12, 2026, the EBA will directly supervise USDC’s own funds, asset reserves, liquidity, and recovery and redemption plans. These responsibilities will shift from France’s ACPR, which will continue to oversee governance and other corporate matters. This dual supervision is designed to enhance regulatory oversight and cooperation. With approximately $73 billion in circulation, USDC will now face stricter EU-level scrutiny. This milestone highlights the EU’s commitment to regulating dollar-pegged stablecoins, especially as Tether’s USDT was recently delisted from major EU platforms for not seeking MiCA authorization.
