USDC price stays near dollar as EBA oversight approaches
Published on 11/01/2026 at 13:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSRegulation overtakes price action
- USDC was trading close to its one-dollar target on the reviewed Investing.com page.
- The EBA has classified USDC as the European Union's first significant e-money token under MiCA.
- Direct EBA supervision of reserves, liquidity and redemption planning begins on November 12, 2026.
- TokenPost reported 70 billion USDC in circulation and 71.4 billion USD in reserves as of October 29.
The USDC price remained close to its dollar peg as the market focused on an approaching regulatory change in Europe. On the Investing.com USDC/USD page reviewed on November 1, the displayed quote was 1.0011 USD, with the page showing a real-time label and a 07:19:04 time. The page did not provide an explicit calendar date for that display, so it should be treated as the quote shown at the time of review rather than as a verified UTC daily close.
For a dollar-linked stablecoin, the key question is not conventional price appreciation. Investors and market participants are instead watching redemption mechanics, reserve quality, liquidity and the regulatory framework that governs the issuer.
Enhanced European oversight begins soon
The European Banking Authority classified USDC as the European Union's first significant e-money token under the Markets in Crypto-Assets Regulation, or MiCA. In its October 14 press release, the EBA said that 45 e-money tokens had been notified under MiCA and that USDC was the first to receive significant status.
From November 12, the EBA will assume direct supervisory responsibility for own funds, reserve assets, liquidity requirements, and recovery and redemption plans for the European issuer. France's Autorite de Controle Prudentiel et de Resolution will retain responsibility for areas including governance, qualifying holdings, management suitability, outsourcing and conflicts of interest. The change is a division of supervisory responsibilities, not a new token or a stated change to USDC's dollar-linked function.
Circulation and reserves remain central
TokenPost reported that Circle listed 47.9 billion USD in USDC issuance and 51 billion USD in redemptions over the 30-day reporting period ending October 29. Circulation stood at 70 billion USDC, while reported reserves totaled 71.4 billion USD. The publication noted that the rolling 30-day figures do not show how circulation changed in each individual week.
Circle's own USDC information page describes the token as redeemable one-for-one for US dollars and says it is backed by cash and cash-equivalent assets. The same page displayed 71.0 billion USDC in circulation as of October 26, a dated company figure that differs from TokenPost's later October 29 report.
What the change means for holders
The EBA classification increases scrutiny of the safeguards supporting USDC, but it does not remove market, custody or operational risks. The near-dollar quote indicates that the displayed market price was stable at the time of review; it does not establish the size of reserves or guarantee redemption in every circumstance. The forthcoming supervisory handover is therefore the more relevant development for participants than a small intraday deviation from one dollar.
More background is available on the USDC topic page.
