USDC is the first of 45 EU e-money tokens the EBA has labelled significant under MiCA.
The Oct 14 press release says dual supervision starts Nov 12. The European Banking Authority takes Circle Europe's own funds, reserve assets, liquidity rules and recovery and redemption plans. France's ACPR keeps governance, holdings checks and conflicts of interest.
USDC's market cap is about $72.7B. Tether sits near $183.9B, about 2.5 times larger, and is not on the significant list. Circle issues USDC in the EU through Circle Internet Financial Europe SAS. The EBA also signed an information MoU with New York's DFS.
USDT is bigger. USDC got the EU label first.
$USDC
#MiCA #Stablecoins
NFA. DYOR.
The Oct 14 press release says dual supervision starts Nov 12. The European Banking Authority takes Circle Europe's own funds, reserve assets, liquidity rules and recovery and redemption plans. France's ACPR keeps governance, holdings checks and conflicts of interest.
USDC's market cap is about $72.7B. Tether sits near $183.9B, about 2.5 times larger, and is not on the significant list. Circle issues USDC in the EU through Circle Internet Financial Europe SAS. The EBA also signed an information MoU with New York's DFS.
USDT is bigger. USDC got the EU label first.
$USDC
#MiCA #Stablecoins
NFA. DYOR.