The European Banking Authority (EBA) has designated Circle-issued $USDC as the EU’s first “significant e-money token,” making it the first stablecoin among 45 notified tokens to receive this designation.
The designation was announced on October 14 and will take effect on November 12. From then on, the EBA will directly oversee $USDC ’s own funds, reserve assets, liquidity management, and recovery and redemption plans, with these responsibilities transferred from France’s Prudential Supervision and Resolution Authority (ACPR). The ACPR will continue to supervise matters such as corporate governance, shareholder suitability, and conflicts of interest. According to Circle’s quarterly report, approximately $73.3 billion of USDC was in global circulation at the end of June, up about 19% year over year.
(Source: CryptoSlate)
⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risks; please exercise caution.
#USDC #Stablecoin
The designation was announced on October 14 and will take effect on November 12. From then on, the EBA will directly oversee $USDC ’s own funds, reserve assets, liquidity management, and recovery and redemption plans, with these responsibilities transferred from France’s Prudential Supervision and Resolution Authority (ACPR). The ACPR will continue to supervise matters such as corporate governance, shareholder suitability, and conflicts of interest. According to Circle’s quarterly report, approximately $73.3 billion of USDC was in global circulation at the end of June, up about 19% year over year.
(Source: CryptoSlate)
⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risks; please exercise caution.
#USDC #Stablecoin