Circle Seeks More Flexible EU Reserve Rule as USDC Oversight Nears
Photo: TokenPost
Circle is seeking more flexible European Union reserve rules for USD Coin (USDC) as a new significant-token designation brings its financial safeguards under direct EU supervision Nov. 12. The European Banking Authority (EBA) classified USDC on Oct. 14 as the first significant e-money token among 45 notified under the European Union’s Markets in Crypto-Assets Regulation (MiCA). The designation gives the EBA responsibility for supervising the token’s own funds and reserve assets, its liquidity requirements, and its recovery and redemption plans.
Source: TokenPost
