The European Banking Authority was scheduled to take over specified supervision of Circle’s USDC in Europe on November 12, following its October decision to classify the token as the EU’s first significant e-money token under MiCA. The source does not supply a year for either date or confirm that the transfer has been completed.
The EBA’s responsibilities cover own funds, reserves, liquidity requirements, and recovery and redemption plans. France’s ACPR retains oversight of areas including governance, outsourcing, conflicts of interest and assessments of key personnel. The arrangement applies to Circle Internet Financial Europe SAS; it does not guarantee that applications using USDC are secure or that intermediaries will process withdrawals without delay.
