# Stablecoin Regulatory Intelligence — EU & US (MiCA, GENIUS Act) | StableRadar

> EU and US stablecoin laws with checked official primary sources, plus a per-issuer explanation of the StableRadar Regulatory Compliance Score. Read-only; not legal advice.

Canonical: https://stableradar.com/regulation/intelligence
Generated: 2026-10-26T12:55:44.158Z (live figures are a snapshot at build time; see the canonical page for current values)

# Regulatory Intelligence: EU & US REFERENCE · laws.js / reference.js · official sources · as of 2026-10-26
**In short:** Read-only view of StableRadar's existing EU and US stablecoin regulation data and a per-issuer explanation of the Regulatory Compliance Score. 5 EU/US records are shown with a checked primary official source; 3 are listed as not verified. Not legal advice.

Phase 1: built only from existing StableRadar datasets. Regulatory compliance is assessed separately from financial / market risk.

Monitoring:

Dataset check date:

Content reviewed:

Source links:

### Stablecoin × country checker
Stablecoin

Country

Shareable link

### USDC in 🇺🇸 United States
Issuer: [Circle](https://stableradar.com/issuer/circle) · records from StableRadar datasets as of 2026-10-26. This is a list of public records, not an assessment of whether USDC may be used in United States.

#### Issuer licence records
National trust bank charter No. 25361 (Circle National Trust)

Dataset status: Authorized

OCC

listed as of 8 Sep 2026

Not verified

dataset link ↗

Limited-purpose trust company (Circle New York Trust)

Dataset status: Authorized

NYDFS

Sub-national: NY

Not verified

dataset link ↗

Virtual Currency and Money Transmitter Licenses — Circle Internet Financial, LLC (NYDFS regulated-entities list)

Dataset status: Authorized

NYDFS

2015-09

Sub-national: NY

dfs.ny.gov ↗

dataset as of 2026-10-26

Money transmitter licences — 46 states + DC + PR; FinCEN MSB

Dataset status: Authorized

State regulators / FinCEN

Not verified

dataset link ↗

#### Token approval by a regulator
Not verified — no token-level regulator record for USDC in United States in the dataset.

#### Applicable laws & status
GENIUS Act (S.1582)

Dataset status: Enacted

OCC, Federal Reserve, FDIC, NCUA, state regulators

Signed 18 Jul 2025 · effective Earlier of 18 months after enactment or 120 days after final regulations

United States

congress.gov ↗

link checked 2026-10-26

STABLE Act (H.R.2392)

Dataset status: Pending

Introduced 2025 · effective —

United States

congress.gov ↗

link checked 2026-10-26

OCC final rule implementing GENIUS

Dataset status: Final Rule

18 Jan 2027 (per TZ)

United States (implementation milestone)

Not verified

dataset link ↗

Treasury / FDIC implementing rules

Dataset status: Proposed

TBD

United States (implementation milestone)

Not verified

dataset link ↗

#### Licensed providers supporting it
Not verified Licensed providers: no issuer-published provider list in the dataset for Circle

Not legal advice. StableRadar does not state whether any stablecoin is allowed or forbidden anywhere. Records are shown as published in the linked official sources; “Not verified” means the dataset has no official primary source for that item. Check the source and seek professional advice.

Laws & frameworks · 3

| Jurisdiction | Law / framework | Status (dataset) | Passed | Effective | Authorities | Key requirements | Primary source | Review |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| **🇺🇸 US** | **GENIUS Act (S.1582)** | Enacted | Signed 18 Jul 2025 | Earlier of 18 months after enactment or 120 days after final regulations | OCC, Federal Reserve, FDIC, NCUA, state regulators | Federal framework for payment stablecoins: permitted issuers only, 1:1 reserves in cash/T-bills etc., monthly reserve disclosure, redemption rights, AML/sanctions compliance. | [congress.gov ↗](https://www.congress.gov/bill/119th-congress/senate-bill/1582)Link checked 2026-10-26 | Dataset check date: 2026-10-26 Content reviewed: not recorded |
| **🇺🇸 US** | **STABLE Act (H.R.2392)** | Pending | Introduced 2025 | — | — | House stablecoin bill; legislative status per Congress.gov. | [congress.gov ↗](https://www.congress.gov/bill/119th-congress/house-bill/2392)Link checked 2026-10-26 | Dataset check date: 2026-10-26 Content reviewed: not recorded |
| **🇪🇺 EU** | **Markets in Crypto-Assets Regulation (EU) 2023/1114 (MiCA)** | In force | 31 May 2023 | Titles III–IV (ART/EMT): 30 Jun 2024; full application 30 Dec 2024 | EBA, ESMA, national competent authorities | Authorisation for e-money token and asset-referenced token issuers, reserve and redemption-at-par requirements, white papers, CASP licensing. | [eur-lex.europa.eu ↗](https://eur-lex.europa.eu/eli/reg/2023/1114/oj)Link checked 2026-10-26 | Dataset check date: 2026-10-26 Content reviewed: not recorded |

Implementation milestones · 2

| Jurisdiction | Milestone | Status (dataset) | Date | Detail | Primary source | Review |
| --- | --- | --- | --- | --- | --- | --- |
| **EU** | **MiCA Titles III & IV (ART/EMT)** | In Force | 30 Jun 2024 | Authorisation, reserve, whitepaper and redemption rules for ARTs and EMTs. | [eur-lex.europa.eu ↗](https://eur-lex.europa.eu/eli/reg/2023/1114/oj)Link checked 2026-10-26 | Dataset check date: 2026-10-26 Content reviewed: not recorded |
| **EU** | **MiCA full application (CASPs)** | In Force | 30 Dec 2024 | CASP regime; transitional periods per member state up to 1 Jul 2026. | [esma.europa.eu ↗](https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica)Link checked 2026-10-26 | Dataset check date: 2026-10-26 Content reviewed: not recorded |

Not shown as conclusions · 3

These existing dataset entries did not pass the primary-source check, so their status and dates are not presented here as legal conclusions.

US · OCC final rule implementing GENIUS

Not verified

US · Treasury / FDIC implementing rules

Not verified

EU · ESMA expectations — non-MiCA stablecoins

Not verified

### Regulatory Compliance Score by issuer
Scores are calculated by StableRadar's existing Compliance Score methodology. They are the same numbers shown on each issuer page. Weights: Licensing 30% · Reserves & audit 25% · Redemption rights 15% · Enforcement history 20% · Transparency & cooperation 10%. Inputs without public data score zero within their pillar; the score is withheld when fewer than 50% of inputs are available. Not legal advice; algorithmic assessment from public sources.

Issuers · 17 of 17

| Issuer | Tokens | Compliance Score | Inputs available | EU/US licence records | Details |
| --- | --- | --- | --- | --- | --- |
| **Ripple** | RLUSD | **72** | 94% | 4 (2 authorised, 2 register-verified) | [Issuer page →](https://stableradar.com/issuer/ripple) |
| **Tether** | USDT | **53** | 94% | 2 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/tether) |
| **Circle** | USDC, EURC | **82** | 94% | 6 (6 authorised, 3 register-verified) | [Issuer page →](https://stableradar.com/issuer/circle) |
| **Paxos** | PYUSD, USDG | **60** | 94% | 3 (3 authorised, 1 register-verified) | [Issuer page →](https://stableradar.com/issuer/paxos) |
| **World Liberty Financial** | USD1 | **55** | 94% | 2 (1 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/wlfi) |
| **Sky (formerly MakerDAO)** | USDS, DAI | **33** | 88% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/sky) |
| **Ethena** | USDE | **43** | 94% | 1 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/ethena) |
| **First Digital** | FDUSD | **51** | 94% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/fdt) |
| **Gemini** | GUSD | **52** | 94% | 2 (2 authorised, 2 register-verified) | [Issuer page →](https://stableradar.com/issuer/gemini) |
| **USDD DAO** | USDD | **28** | 69% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/usdd) |
| **Techteryx** | TUSD | **25** | 81% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/techteryx) |
| **Frax** | FRAX | **36** | 88% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/frax) |
| **Usual** | USD0 | **36** | 88% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/usual) |
| **Aave** | GHO | **36** | 88% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/aave) |
| **Curve** | CRVUSD | **36** | 88% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/curve) |
| **Liquity** | LUSD | **43** | 88% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/liquity) |
| **Stasis** | EURS | **28** | 81% | 0 (0 authorised, 0 register-verified) | [Issuer page →](https://stableradar.com/issuer/stasis) |

How the score is built: Ripple · 72 / 100

Same calculation as the Regulatory Compliance Score on the [Ripple issuer page](https://stableradar.com/issuer/ripple). Inputs available: 94%. Licensing covers 7 key jurisdictions (US, EU, UK, Singapore, UAE, Japan, Hong Kong), as defined by the existing methodology.

| Pillar | Weight | Pillar result | Points |
| --- | --- | --- | --- |
| **Licensing** | 30% | 36% | 10.7 |
| **Reserves & audit** | 25% | 80% | 20.0 |
| **Redemption rights** | 15% | 100% | 15.0 |
| **Enforcement history** | 20% | 93% | 18.5 |
| **Transparency & cooperation** | 10% | 75% | 7.5 |
| **Total (rounded)** | 100% | — | **72** |

| Pillar | Input | Value used | Source |
| --- | --- | --- | --- |
| Licensing | United States | Authorised · verified on register | [source ↗](https://www.dfs.ny.gov/virtual_currency_businesses) |
| Licensing | EU (MiCA) | No authorisation on record | — |
| Licensing | United Kingdom | No authorisation on record | — |
| Licensing | Singapore | No authorisation on record | — |
| Licensing | UAE | Authorised · reported only | [source ↗](https://ripple.com/ripple-press/rlusd-stablecoin-dfsa-approval/) |
| Licensing | Japan | Authorised · verified on register | [source ↗](https://www.fsa.go.jp/en/regulated/licensed/denshikessaisyudan.pdf) |
| Licensing | Hong Kong | No authorisation on record | — |
| Reserves & audit | Attestation frequency | Monthly | [source ↗](https://ripple.com/products/stablecoin/transparency/) |
| Reserves & audit | Auditor / attestor | Deloitte & Touche LLP (Big 4) | [source ↗](https://ripple.com/products/stablecoin/transparency/) |
| Reserves & audit | Full audit (vs attestation only) | Attestation / on-chain only | [source ↗](https://ripple.com/products/stablecoin/transparency/) |
| Redemption rights | Documented direct redemption | Documented | [source ↗](https://ripple.com/products/stablecoin/) |
| Redemption rights | Redemption terms disclosed | Eligibility/minimums stated | [source ↗](https://ripple.com/products/stablecoin/) |
| Redemption rights | Redemption fees | Not captured in reference set (missing) | — |
| Enforcement history | 2020-12-22 → 2025 | SEC v. Ripple Labs (XRP institutional sales; not RLUSD) — $125M civil penalty ordered Aug | [source ↗](https://www.sec.gov/enforcement-litigation/litigation-releases) |
| Transparency & cooperation | Law-enforcement / authority cooperation | 1 documented | [source ↗](https://xrpl.org/docs/concepts/tokens/fungible-tokens/clawing-back-tokens) |
| Transparency & cooperation | Public reserve reporting | Report link published | [source ↗](https://ripple.com/products/stablecoin/transparency/) |

Compliance is not financial risk

The Regulatory Compliance Score measures licensing, reserve reporting, redemption terms, enforcement history and transparency from public sources. It does not measure peg stability, liquidity or market risk. Those are covered separately by the [StableRadar Score](https://stableradar.com/risk/srs) ([methodology](https://stableradar.com/risk/method)). Average Compliance Score across 17 scored issuers: 45.

Stablecoin Laws

Last updated: 2026-10-26 · Sources: Official government / regulator publications (linked per entry)