Regulatory Landscape
Nine jurisdictions with live or drafted frameworks. Drag the globe to rotate. Click a marker or table row to inspect a jurisdiction. For the full written analysis, read The Complete Stablecoin Regulatory Map.
Framework Comparison
| Jurisdiction | Framework | Status | Reserve Rule | Attestation | Yield |
|---|---|---|---|---|---|
| United States | GENIUS Act | LIVE Nov 2026 | 93-day T-bills, insured deposits, govt MMFs (closed list) | Monthly, PCAOB-registered, CEO/CFO criminal cert | Prohibited |
| New York (NYDFS) | NYDFS Guidance (Jun 2022) | LIVE Jun 2022 | T-bills, govt MMFs, insured deposits (1:1 daily) | Monthly CPA (no PCAOB requirement) | Not specified |
| European Union | MiCA (Reg 2023/1114) | LIVE Jul 2024 (stablecoins) | 60% in bank deposits (significant EMTs), 6+ banks | Monthly publication; less specific than GENIUS | Prohibited |
| United Kingdom | BoE/FCA two-tier | DRAFTED FCA: Oct 2027 | 70-95% in UK gilts + 5% BoE deposits | TBD (Code of Practice in consultation) | Not specified |
| Singapore | MAS SCS Framework | LIVE Aug 2023 | 100% in cash or 3-month govt debt in peg currency | Monthly checks + annual audit (ISCA) | Not prohibited |
| Japan | PSA Amendments | LIVE Jun 2023 (amended Jun 2026) | 100% segregated; trust banks may hold 50% in JGBs | Daily reconciliation; varies by license | Not prohibited |
| Hong Kong | Stablecoins Ordinance | LIVE Aug 2025 | 100% in high-quality liquid assets | Required (specifics per HKMA) | Not specified |
| UAE | CBUAE + VARA + ADGM + DFSA | LIVE Jul 2024 (CBUAE PTSR) | 100% backing; varies by regulator | Required per each framework | Varies by zone |
| Bermuda | BMA DABA + SCPS | LIVE 2018 (SCPS Nov 2024) | Full backing; Big Four attestation expected | Monthly independent | Permitted |
Data as of August 2026 · Full analysis · Registry
This registry is a personal project. It is informational only and does not constitute professional advice, an attestation, an opinion, or an assurance engagement. It is not affiliated with or endorsed by any employer or firm.