USDC Becomes the EU's First Significant E-Money Token Under MiCA | Stablecoins USDC

The European Banking Authority (EBA) has classified USDC as a “significant e-money token” under MiCA, making the dollar-pegged stablecoin the first of 45 such tokens notified in the EU to reach that level. From 12 November 2026, USDC will come under MiCA’s dual supervision for systemically important tokens. The change is supervisory, not a new rule: the EBA takes direct oversight of USDC’s reserves and redemption mechanics, while France’s ACPR retains responsibility for areas including governance and fit-and-proper assessments. The EBA will coordinate closely with the ACPR to transition smoothly.