EU authority classifies Circle’s USDC as ‘significant’ under MiCA
Summary
The European Banking Authority classified Circle’s USDC as a significant e-money token under MiCA, placing it under joint oversight by the EBA and France’s ACPR. USDC is the second-largest stablecoin, with a market capitalization of about $73 billion, behind Tether’s $184 billion. The designation comes as European issuers and businesses seek regulated dollar-pegged stablecoins for cross-border payments. Meanwhile, the European Central Bank is exploring a digital euro, potentially for issuance in 2029, pending legislation and a pilot.
