{"jurisdictions":[{"code":"US","name":"United States","framework":"GENIUS Act / NYDFS / OCC","status":"Implemented","effective":"2024-01","notes":"Issuer licensing under NYDFS; reserve attestation monthly. STABLE Act discussions ongoing."},{"code":"EU","name":"European Union","framework":"MiCA (Markets in Crypto-Assets)","status":"Live (Stablecoin titles)","effective":"2024-06-30","notes":"EMT/ART issuer authorization; reserves requirement; €200M daily cap on non-EUR stablecoin retail use."},{"code":"SG","name":"Singapore","framework":"MAS Stablecoin Framework","status":"Live","effective":"2023-08-15","notes":"Single-currency pegged stablecoins (SCS) — capital and reserve rules; whitepaper required."},{"code":"HK","name":"Hong Kong","framework":"HKMA Stablecoin Ordinance","status":"Live","effective":"2025-08-01","notes":"Mandatory licensing for fiat-referenced stablecoin issuers; reserve and redemption rights."},{"code":"UK","name":"United Kingdom","framework":"FCA / BoE regimes","status":"Phased","effective":"2025-Q4","notes":"Systemic SC oversight by BoE; FCA conduct rules for retail issuance."},{"code":"JP","name":"Japan","framework":"Payment Services Act (revised)","status":"Live","effective":"2023-06-01","notes":"Issuance restricted to licensed banks, trust companies and money transfer agents."},{"code":"AE","name":"UAE (VARA)","framework":"VARA Stablecoin Rulebook","status":"Live","effective":"2024-06-01","notes":"Dirham-referenced and foreign reference virtual assets — approval & reserve rules."},{"code":"BR","name":"Brazil","framework":"BCB framework","status":"In progress","effective":"2025","notes":"Banco Central regulating crypto including stablecoins under VASP regime."}],"updates":[{"date":"2026-06-06","region":"Global","title":"BIS guidance on tokenised deposits vs stablecoins","impact":"Informational"},{"date":"2026-06-06","region":"EU","title":"ESMA Q&A on MiCA reserves and audit cadence","impact":"Operational"},{"date":"2026-06-06","region":"US","title":"Bipartisan stablecoin bill markup advances in committee","impact":"Strategic"},{"date":"2026-06-06","region":"SG","title":"MAS issues clarification on SCS use in cross-border payments","impact":"Operational"},{"date":"2026-06-06","region":"HK","title":"HKMA opens consultation on retail use limits","impact":"Strategic"}],"checklist":[{"area":"Issuer licensing","required":true,"owner":"Legal","status":"Required per jurisdiction"},{"area":"Reserve composition disclosure","required":true,"owner":"Finance","status":"Monthly attestation recommended"},{"area":"Reserve audit (independent)","required":true,"owner":"Audit","status":"Annual or quarterly"},{"area":"Redemption SLA","required":true,"owner":"Operations","status":"T+1 business day standard"},{"area":"AML/CFT program","required":true,"owner":"Compliance","status":"Travel rule + KYC"},{"area":"Sanctions screening","required":true,"owner":"Compliance","status":"Real-time screening on transfers"},{"area":"Consumer disclosures","required":true,"owner":"Legal","status":"Whitepaper + risk disclosures"},{"area":"Data protection (GDPR/PDPA)","required":true,"owner":"Privacy","status":"Cross-border transfer assessments"},{"area":"Operational resilience (DORA)","required":false,"owner":"Tech","status":"EU-only mandatory"},{"area":"Quarterly regulator reporting","required":true,"owner":"Compliance","status":"Per jurisdiction template"}],"kycProviders":[{"name":"Sumsub","region":"Global","coverage":"220+ jurisdictions"},{"name":"Onfido","region":"Global","coverage":"195+ jurisdictions"},{"name":"Jumio","region":"Global","coverage":"200+ jurisdictions"},{"name":"Persona","region":"Global","coverage":"200+ jurisdictions"},{"name":"Trulioo","region":"Global","coverage":"195+ jurisdictions"}],"generatedAt":"2026-06-06T00:24:18.500Z"}