According to CoinMeta, USDC of Circle has been recognized by European banking regulatory authorities as the first important digital currency token. This decision will take effect on November 12th, at which time the European Banking Authority (EBA) will directly supervise the reserve, liquidity, and redemption plans of USDC. In a statement on October 14th, EBA stated that it will be responsible for handling matters related to capital, reserve assets, liquidity, recovery, and redemption, while the French regulatory authority ACPR will continue to oversee other aspects of Circle in Europe. This move signifies that the regulatory framework for USDC in Europe will change, with EBA exercising stricter supervision over it.