Regulatory Tracker

Status and requirements for the Core 7 stablecoin jurisdictions. Updated weekly alongside newsletter research.

⚖️Not legal advice. This tracker is for informational purposes only. Regulatory frameworks change frequently — always verify against primary sources and consult qualified legal counsel before relying on this data for business decisions.

	Framework	Regulator(s)		Licensed Issuers	Last Verified
🇸🇬Singapore	MAS Stablecoin Regulatory Framework (SCS)	Monetary Authority of Singapore (MAS)	Passed	StraitsX (XSGD/XUSD)	2026-08-08
🇭🇰Hong Kong	Stablecoins Ordinance (Cap. 656)	Hong Kong Monetary Authority (HKMA)	Enforced	HSBC, Anchorpoint Financial Limited (StanChart/HKT/Animoca)	2026-08-08
🇯🇵Japan	Payment Services Act — Electronic Payment Instruments (EPI) regime	Financial Services Agency (FSA)	Enforced	JPYC Co. (JPYC)	2026-09-08
🇦🇪United Arab Emirates	CBUAE Payment Token Services Regulation 2024 (+ VARA FRVA rules, ADGM FSRA regime)	Central Bank of the UAE (CBUAE), Dubai VARA, ADGM FSRA	Enforced	Zand Bank (Zand AED), RAKBANK (in-principle) +1	2026-09-08
🇪🇺European Union	Markets in Crypto-Assets Regulation (MiCA) — EMT/ART regime	European Banking Authority (EBA), ESMA, National Competent Authorities	Enforced	Circle (USDC, EURC)	2026-08-08
🇬🇧United Kingdom	FCA Cryptoasset Regime — Stablecoin Issuance (+ BoE systemic stablecoin regime)	Financial Conduct Authority (FCA), Bank of England (systemic), HM Treasury	Passed	None yet	2026-10-01
🇺🇸United States	GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act)	OCC, Federal Reserve, FDIC, Treasury / FinCEN / OFAC, State regulators (substantially-similar regimes)	Passed	None yet	2026-07-20