From TokenPost · · 50s
Circle Wants Flexible EU Reserve Rules for USDC
Circle seeks EU rule changes to allow more flexible reserve requirements for USDC as oversight begins.
In brief
Circle seeks EU rule changes to allow more flexible reserve requirements for USDC as oversight begins. Circle requested EU reserve rules changes to replace bank deposit minimums with liquidity standards for USDC as direct EU supervision starts Nov 12. Originally reported by TokenPost.
USDC gets EU supervision
Circle Internet Financial Europe SAS issues USDC in the EU as the EBA classifies it as the first significant e-money token under MiCA.
EU reserve rules change request
Circle asked the european commission on oct 1 to replace the 60% bank-deposit minimum with a minimum asset-liquidity standard.
USDC reserve income distribution
Circle reported $1.395 billion in revenue and reserve income with $819.3 million in costs during the six months through june 30.
USDC oversight begins
The european banking authority begins direct supervision of usdc's eu issuer on nov 12.
The short version
Circle requested EU reserve rules changes to replace bank deposit minimums with liquidity standards for USDC as direct EU supervision starts Nov 12.
