The European Banking Authority (EBA) has officially classified Circle’s USDC as a “significant” e‑money token, marking the first stablecoin to obtain this designation under the European Union’s Markets in Crypto‑Assets (MiCA) regulation.
Under the new oversight regime, supervisory responsibility for USDC will be jointly held by the EBA and French regulators, with the framework taking effect on November 12.
USDC, currently the second‑largest stablecoin by market capitalization, was trading at $0.999644 with negligible price movement over the past 24 hours, according to Tradexus data at 11:30 UTC.
The designation provides USDC with a clear regulatory status in the EU, potentially easing compliance for issuers and users while signaling that other major stablecoins may seek similar recognition.
Market participants may watch for any operational adjustments by Circle to align with the shared supervisory model and for subsequent filings by other stablecoins seeking “significant” status under MiCA.
This story was compiled by the Tradexus News Desk with the help of AI.
