Technology
European Banking Authority Classifies Circle's USDC Under MiCA Rules
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THE BRIEF
1
The European Banking Authority classified Circle’s USDC as the first significant e-money token under the EU's Markets in Crypto-Assets Regulation.
2
The designation followed evaluations of holder counts, transaction volumes, and token values against regulatory criteria.
3
Beginning November 12, supervision of the stablecoin will be jointly handled by the EBA and France’s banking regulator, the ACPR.