USDC Gets EU ‘Significant’ Status: What Changes
Photo: Coindoo
The EBA announced on October 14 that USDC, issued by Circle Internet Financial Europe SAS, had become the EU’s first significant e-money token under the Markets in Crypto-Assets Regulation, or MiCA. E-money tokens reference a single official currency—in USDC’s case, the dollar. Circle France already holds an electronic money institution licence. Significant status adds requirements to that existing framework. Who oversees what from November 12 EBA: Regulatory capital, reserve assets, liquidity requirements, and recovery and redemption plans. France’s ACPR: Governance, management suitability, ownership assessments, outsourcing and conflicts of interest.
Source: Coindoo
