EU Authority Classifies Circle's USDC as Significant Under MiCA

• The European Banking Authority classified USDC as a significant e-money token under MiCA.
• USDC, issued by Circle Internet Financial Europe SAS, is the second-largest stablecoin by market cap.
• French and EU authorities will oversee USDC under its new classification.
• The Markets in Crypto Assets Regulation (MiCA) set the criteria for this classification.
• This classification follows an assessment by the European Banking Authority.