The European Banking Authority (EBA) classified USDC as a significant e-money token (EMT) on 14 October 2026. This classification follows the EBA's assessment of the criteria set out in the Markets in Crypto Assets Regulation (MiCA).
The EBA relied on the Markets in Crypto Assets Regulation (MiCA) for this classification. USDC is the first e-money token to achieve significant status under this regulation.
This classification applies to Circle Internet Financial Europe SAS, the issuer of USDC. Currently, there are 45 EMTs in the European Union that have been notified under MiCA.
The material does not specify any deadlines or transitional periods related to this classification. Compliance teams at crypto and fintech firms should monitor developments regarding e-money token classifications.