Dual Supervision Over USDC Comes Into Force in Europe

• EBA oversees the issuer's capital, reserves, liquidity, and USDC redemption mechanisms
• ACPR (France) is responsible for Circle's corporate governance, company management, outsourcing, and conflicts of interest

USDC became the first of 45 registered EMTs in the EU to receive this high significance status.

The European Banking Authority (EBA) has granted stablecoin USDC the status of a significant electronic money token under the MiCA regulatory framework. Starting November 12, the asset will come under dual supervision by two European regulators.

Supervisory functions are distributed as follows: