The European Banking Authority has designated USDC as the EU’s first significant e-money token under MiCA. The classification, announced on October 14, will take effect on November 12, giving the EBA direct responsibility for prudential supervision of the token, including own funds, reserves, liquidity and redemption planning. France’s ACPR will retain oversight of governance, outsourcing and suitability of key personnel. Circle Internet Financial Europe SAS is the entity issuing the token within the bloc.
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