UPDATE: EBA takes over direct supervision of Circle's USDC under MiCA
CIE News ·
Update to EU labels Circle's USDC as significant e-money token under MiCA
Based on an official regulatory or court document.
The European Banking Authority designated Circle's USDC as the EU's first significant e-money token under MiCA, shifting primary supervisory authority over reserves and liquidity to the EU regulator.
On October 14, 2026, the European Banking Authority designated USD Coin (USDC), issued by Circle Internet Financial Europe SAS, as the first significant e-money token under the Markets in Crypto-Assets regulation. As previously reported, the stablecoin was classified as significant by the EU authority, subjecting it to joint oversight.
The EBA stated that the designation followed an evaluation of MiCA criteria, such as market capitalization, cross-border transactional activity, and the number of tokenholders. Across the European Union, 45 e-money tokens have been notified under the framework, but USDC is the first to obtain significant status, according to Cointelegraph.
Following the decision, direct supervisory duties regarding Circle's USDC reserves, liquidity management, and operational resilience shift from national authorities to the EBA under MiCA's unified supervisory mechanism. USDC remains the second-largest stablecoin by market capitalization.
Key facts
- First significant MiCA EMT
- EBA assumes supervisory duty
- 45 total EMTs notified
- Issued by Circle Europe
Read the original at Cointelegraph