The European Banking Authority begins supervising Circle's USDC stablecoin on November 12, making it the first token to receive EU-level regulatory oversight under Markets in Crypto-Assets Regulation. The EBA will manage supervision of reserves, liquidity standards, and recovery plans, while France's ACPR retains authority over governance and compliance matters.
USDC received the significant e-money token designation in October after the EBA reviewed 45 MiCA-registered tokens. The classification brings stricter monitoring but does not indicate safety concerns. Circle's EU entity will face annual reviews to determine whether the heightened supervision continues, while other registered tokens undergo similar assessment.
Read the full story on BSC News: EBA Takes Over Direct Supervision of Circle's USDC Stablecoin in EU From November 12
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