EBA Classifies USDC as First Significant E-Money Token Under EU MiCA Regulations

Key Facts

The European Banking Authority classified the USDC stablecoin as the first significant e-money token in the European Union under MiCA regulations. Blockonomi reported that the classification follows USDC meeting at least three of seven criteria established under the framework, placing the Circle-issued token under heightened regulatory scrutiny.

Dual supervision for the token is set to commence on November 12, 2026, with the EBA assuming direct oversight of own funds, reserve assets, and liquidity requirements from France's ACPR. This regulatory shift occurs as EU economic data showed a Consumer Price Index of 104.77 and an annual inflation rate of 4% on November 4, 2026.

ECB President Christine Lagarde is scheduled to deliver speeches on November 11, 2026, and November 12, 2026, the latter coinciding with the start of the new supervisory regime for USDC. Additionally, the European Central Bank will release its Economic Bulletin on November 12, 2026.