Stablecoin regulation & policy

What the GENIUS Act means for stablecoin issuers

The GENIUS Act, signed into law on 18 July 2025, sets binding rules for anyone who wants to issue a payment stablecoin for US persons: mandatory licensing through one of three pathways, 100% reserve backing with a defined asset list, monthly public disclosures examined by a registered accountant, timely redemption procedures, and an explicit prohibition on paying holders interest. Existing issuers have a transition period; new entrants must comply from launch.

GENIUS Act vs MiCA: how US and EU stablecoin rules compare

The US GENIUS Act (signed July 2025) and the EU's MiCA (fully in force December 2024) are the two most consequential stablecoin regulatory frameworks in the world. Both require 100% reserve backing and issuer licensing, but they differ sharply on reserve composition, who regulates whom, how foreign issuers are treated, and what happens to yield. This article maps the differences side by side.

MiCA explained: the EU's stablecoin regulation

MiCA — the EU's Markets in Crypto-Assets Regulation — is the world's broadest crypto-asset law. For stablecoins, the key rules took effect on 30 June 2024. It splits stablecoins into two categories (EMT and ART), requires issuer authorization, mandates 100% reserve backing, and restricts large stablecoins. CASPs serving EU users must be licensed by 30 December 2024.

How MiCA affects USDT in Europe — and what it means for your business

Tether's USDT is no longer available for trading on MiCA-regulated EU exchanges as of 31 March 2025, because Tether has not obtained MiCA authorization. USDC — authorized by Circle through a French EMI license in July 2024 — is the main MiCA-compliant dollar stablecoin available on European platforms. This article explains the regulatory basis, the practical exchange impact, and what businesses operating in Europe should do.

Stablecoin AML and sanctions compliance: what businesses need to know

Payment stablecoin issuers in the US are now treated as financial institutions under the Bank Secrecy Act, with mandatory AML/CFT programs and — for the first time — explicit statutory sanctions compliance obligations. A FinCEN/OFAC proposed rule published 10 April 2026 fills in the specifics: written programs, risk assessments, SAR filing at a $5,000 threshold, and technical controls to freeze and reject sanctioned transactions.

Stablecoin regulation by country: a 2026 global map

Eight major jurisdictions have enacted or finalized stablecoin-specific regulatory frameworks as of mid-2026: the United States (GENIUS Act, July 2025), the EU (MiCA, December 2024), Hong Kong (Stablecoins Ordinance, August 2025), UAE (PTSR, July 2024), Singapore (MAS SCS framework, August 2023), Japan (amended Payment Services Act, June 2023, further amended 2025), UK (framework expected 2026–2027), and Brazil (BCB resolutions, November 2025). This article maps the status, key rules, and licensing body for each.