Circle’s USDC becomes first stablecoin under new EU supervision

Circle’s USDC has become the first stablecoin to receive the European Union’s “significant” e-money token classification under MiCA, bringing the dollar-backed cryptocurrency under direct European Banking Authority supervision beginning November 12, 2026. The European Banking Authority (EBA) announced the decision on October 14 after assessing USDC against the criteria established by the Markets in Crypto-Assets Regulation (MiCA). Of the 45 e-money tokens currently notified under the framework, USDC is the first to receive the designation. The new classification will divide oversight between the EBA and France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR). The EBA’s decision places USDC under the supervisory framework established for significant e-money tokens.