# European Banking Authority Takes Direct Supervision of USDC's Reserves From the French Regulator

The November 12 handover makes Circle the first stablecoin issuer supervised in Brussels for liquidity and redemption, the same week Gemini reportedly sold its exited UK and EU units to stablecoin firm KAST for less than $10 million.

- Published: 2026-11-13T05:45:42.603Z
- Canonical: https://polylog.news/crypto/2026-11-13/european-banking-authority-takes-direct-supervision-of-usdc
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CryptoSlate](https://cryptoslate.com/circle-hands-usdc-reserves-to-eu-regulators-risking-higher-fees/), [crypto.news (Gemini)](https://crypto.news/gemini-kast-uk-europe-sale/), [crypto.news (USDC)](https://crypto.news/circle-usdc-becomes-first-stablecoin-under-eu-rules/), [Finance Magnates](https://www.financemagnates.com/cryptocurrency/eu-banking-regulator-takes-over-key-oversight-of-circles-usdc-stablecoin/), [CryptoSlate (reserves)](https://cryptoslate.com/usdc-splits-global-reserves-as-eba-enforces-nov-12-handover/), [The Block](https://www.theblock.co/news/markets/2026-02-05-gemini-exits-uk-eu-australia-cuts-25-staff-exchange-refocuses-us-388664)

From November 12, the European Banking Authority (EBA) directly supervises the reserves behind Circle's USDC in the European Union, CryptoSlate reported. The EBA now oversees Circle's own funds, its reserve assets, its liquidity requirement…

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