candlewax

USDC is getting another regulator. Does that actually change anything for the people holding it?

Starting November 12, USDC will be under direct EBA supervision for things like reserves, liquidity and redemption planning in the EU.

It's the first stablecoin classified as a significant e-money token under MiCA.

Official announcement:
https://www.eba.europa.eu/publications-and-media/press-releases/eba-classifies-usdc-first-significant-e-money-token-european-union

I suppose more scrutiny is better than less.

But whenever I see "stronger regulatory oversight", I wonder what that translates to if something actually goes wrong.