EBA names USDC first significant e-money token under MiCA

The European Banking Authority (EBA) has classified USDC as a significant e-money token under the EU's MiCA framework, the first stablecoin to receive the designation. The classification triggers direct EBA supervision of Circle's EU operations beginning November 12.

• USDC is the first stablecoin designated significant under MiCA.
• The move places Circle's EU activities under direct EBA oversight, a stricter tier than standard national-authority oversight for regular e-money tokens.