USDC Just Hit a Major EU Regulatory Milestone: Here’s What Changes in November

Circle’s USDC has become the first stablecoin in the European Union to receive significant e-money token status under the Markets in Crypto-Assets Regulation (MiCA). The classification was made by the European Banking Authority (EBA) after assessing the token against the regulation’s criteria. Regulatory Upgrade The EU currently has 45 e-money tokens notified under MiCA. USDC is the first to be classified as “significant.” The new rules will take effect on November 12, 2026. From that date, the EBA will take over direct supervision of the crucial areas, such as capital requirements, asset reserves, liquidity, and recovery and redemption plans. These responsibilities currently fall under France’s banking regulator, the ACPR. However, the ACPR will retain oversight of other areas.

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