Circle’s USDC becomes first stablecoin under new EU supervision

Circle's USDC has become the first stablecoin to receive the European Union's "significant" e-money token classification under MiCA, bringing the dollar-backed cryptocurrency under direct European Banking Authority supervision beginning November 12, 2026. Circle's USDC became the first significant e-money token among 45 notified under European Union regulations. November 12 begins joint supervision by the European Banking Authority and France's financial regulator, ACPR. The EBA will oversee reserve assets, liquidity, capital requirements, recovery procedures, and token redemption plans. France's ACPR retains responsibility for governance, outsourcing, ownership assessments, management suitability, and potential conflicts of interest.

Source: crypto.news