Add as a preferred source on GoogleEBA Takes On Specified Supervisory Responsibilities for USDC
USD Coin (USDC) received significant e-money token status from the European Banking Authority (EBA) on Oct. 14.
The European Banking Authority (EBA) took on specified supervisory responsibilities for USD Coin (USDC) on Nov. 12. The EBA’s specified responsibilities cover own-funds, reserve and liquidity requirements, as well as recovery and redemption plans for USDC.
The change follows the EBA’s Oct. 14 classification of USDC as a significant e-money token. The classification preceded the start of the specified supervisory responsibilities by about a month.
The listed areas describe the scope of the EBA’s role in this development. The announcement concerns those supervisory areas for USDC.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.