The European Banking Authority has officially recognized Circle’s USDC as the first « significant » e-money token under the MiCA regulation, with none of the 44 other notified tokens reaching this threshold. This status, which takes effect on November 12, places the issuer under joint supervision by the EBA and France’s banking regulator ACPR. USDC, with a market capitalization of approximately 73 billion dollars, will face stricter requirements regarding capital and reserve composition. Tether, however, has never applied for MiCA authorization and remains absent from the regulated European market, where USDT with its 184 billion dollars in capitalization has been removed from compliant platforms.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
