Update
USDC Receives EU Direct Oversight
The European Banking Authority has designated USDC, the second-largest stablecoin, as the first 'significant' e-money token under MiCA, bringing the stablecoin issuer under direct EU-level supervision starting November 12. The EBA will now directly supervise USDC's own funds, reserve assets, liquidity requirements, and recovery and redemption plans, with oversight of governance, fitness and propriety checks, and conflicts of interest handled by France's ACPR.