European Banking Authority designates USDC as the first "significant e-money token" in the European Union.

The European Banking Authority (EBA) announced that under the Markets in Crypto-Assets (MiCA) regulation, it has designated Circle-issued USDC as a "significant e-money token". USDC is the first among 45 e-money tokens notified in the EU to meet this designation standard. Effective November 12, the EBA will directly regulate USDC’s own funds, reserve assets, liquidity requirements, and recovery and redemption plans—areas previously overseen by France’s Prudential Supervision and Resolution Autho

@tonmelonfest