Why Is Circle Internet Group (CRCL) Now Under Direct EU Banking Oversight?

Circle Internet Group (NYSE:CRCL) had its USDC stablecoin classified as a "significant" e-money token under the EU MiCA regime. The designation brings USDC and its European issuer under direct supervision of the European Banking Authority for the first time. Circle faces MiCA rules on capital, reserves, and governance for USDC across EU markets after the new classification. The new "significant" e-money token status for USDC matters, but it should not be the only thing on your radar. We have...