The European Banking Authority will begin directly supervising @circle’s $USDC in the EU on Thursday, November 12. It will oversee the stablecoin’s reserves, capital, liquidity, and recovery plans, taking over from French regulator ACPR, which will retain oversight of governance and conflicts of interest.

This shift follows the European Banking Authority’s decision on October 14 to classify USDC as a “significant e-money token” under MiCA, the first of 45 announced tokens to receive this classification. The classification applies only to USDC issued by Circle’s French entity, and the authority will review it every year#HotCPIDecemberHikePriced #ZcashFallsBelow$1000ForFirstTimeSinceSeptember #HotCPIDecemberHikePriced #AnthropicRejectsIPODelayValuationinQuestion #BitcoinETFsLose$1.6BInNovember