European Banking Authority Puts USDC Under Significant-Token Supervision
Summary
The European Banking Authority designated USDC the EU’s first significant e-money token under MiCA. Starting November 12, the EBA will directly supervise specified prudential areas, including own funds, reserves, liquidity and recovery or redemption planning. France’s ACPR will retain oversight of governance, outsourcing and key-person suitability. The designation reflects USDC crossing MiCA’s significance threshold among 45 notified e-money tokens; it adds scrutiny but does not guarantee redemption or eliminate market, custody or operational risks.
