EU banking authority classifies USDC as first significant e-money token under MiCA

The European Banking Authority said USDC, issued in the EU by Circle Internet Financial Europe SAS, is the first of 45 notified e-money tokens in the bloc to meet MiCA's significance criteria. From 12 November 2026, USDC falls under dual supervision: the EBA takes over own funds, reserve of assets, liquidity, and recovery and redemption plans from the ACPR, which retains governance, qualifying holdings, fit and proper assessment, outsourcing and conflicts of interest. The EBA also signed a Memorandum of Understanding with the New York State Department of Financial Services.

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