USDC Is Now Too Big for France to Supervise Alone
Photo: ETHNews
USDC is the first stablecoin the EBA has classified as a significant e-money token under MiCA. The EBA takes over supervision of Circle’s reserve and liquidity safeguards in November. Significant status doubles the share of reserves Circle must keep in commercial bank deposits. Circle is lobbying Brussels to rewrite the same reserve rules it now has to meet. The European Banking Authority classified Circle’s USDC as a significant e-money token under the Markets in Crypto-Assets Regulation (MiCA) on October 14, making the dollar stablecoin the first of 45 notified e-money tokens in the EU to cross that threshold and ending…
Source: ETHNews
