Circle reportedly transfers USDC reserve safeguards to EU regulators

CryptoSlate reports that Circle will hand over the financial safeguards associated with USDC reserves to European regulators. November 12 is identified as the disclosed handover date, although the supplied coverage does not provide further detail on the transfer process, the regulators receiving the safeguards, or the fee implications.

European oversight would still involve France’s Autorité de contrôle prudentiel et de résolution, or ACPR, according to CryptoSlate. The outlet says ACPR will retain governance responsibilities, indicating that the arrangement preserves a French regulatory role even as the safeguards change hands.

Because this report comes from a single outlet and does not cite additional supporting coverage, the available details remain limited. CryptoSlate specifically raises the possibility of higher fees, but the supplied summary does not quantify any potential increase or specify which fees could be affected.

Live data show USDC at $0.999539, up 0.01% over both 24 hours and seven days, with a $69.13B market capitalization. DeFiLlama lists USDC’s circulating supply at $69.39B, consistent with the asset’s roughly $69B scale. The broader crypto market is down, with total capitalization at $2.38T, Bitcoin down 6.83% over 24 hours, and the Fear & Greed index at 20, or Extreme Fear. The stablecoin’s stability therefore contrasts with weakness across the wider market.

The reported transition places regulatory accountability and possible fee changes at the center of the story. Key items to watch include the final structure of the handover, how ACPR’s governance role operates in practice, and whether any fee changes are disclosed following the November 12 date.