The European Banking Authority has recognized USDC as the first significant electronic currency token under MiCA

The European Banking Authority (EBA) has recognized the USDC issued by Circle Internet Financial Europe SAS as an important electronic currency token (EMT) under the Crypto Asset Market Regulation (MiCA). There are currently 45 EMTs in the EU that have been declared under MiCA, with USDC being the first token recognized as an important EMT. Starting from November 12, 2026, the prudent regulatory responsibilities for USDC's own funds, reserve assets, liquidity requirements, and recovery and redemption plans will be transferred from the French Prudential Regulation Authority (ACPR) to the EBA, with ACPR continuing to oversee areas such as corporate governance, qualified shareholding, outsourcing, and conflicts of interest. (Source: European Banking Authority)