Global Stablecoin Regulation Tracker — 200+ Countries

MiCA (Markets in Crypto-Assets Regulation) is the European Union's comprehensive regulatory framework for crypto-assets, including stablecoins. It came into full effect in late 2024 and applies across all 27 EU member states plus EEA members (Norway, Iceland, and Liechtenstein). Under MiCA, stablecoin issuers must obtain authorization as an Electronic Money Token (EMT) or Asset-Referenced Token (ART) issuer, maintain 1:1 liquid reserves, undergo regular audits, and meet capital and governance requirements. Significant stablecoins (those exceeding certain transaction thresholds) face enhanced oversight by the European Banking Authority (EBA). Major issuers including Circle and Tether have pursued MiCA compliance to continue operating in the EU.

The GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) is proposed US federal legislation that would create a federal licensing framework for stablecoin issuers. If enacted, it would require stablecoin issuers to maintain 1:1 liquid reserves backed by US dollars or short-term Treasuries, obtain approval from a federal or state regulator, and comply with anti-money laundering (AML) rules. As of early 2026, the GENIUS Act remains under Congressional consideration. In the interim, US stablecoin issuers operate under a patchwork of state money transmission licenses and informal federal guidance.

As of early 2026, countries with live stablecoin regulatory frameworks include the European Union (MiCA, covering all 27 member states), Singapore (MAS Payment Services Act), the United Arab Emirates (ADGM/FSRA and VARA frameworks in Abu Dhabi and Dubai respectively), Bahrain (Central Bank of Bahrain crypto-asset module), and several others. Use the interactive map above to filter countries by regulatory stage — "Live" indicates regulations currently in effect. The list grows regularly as new frameworks are enacted. See the updates page for the latest changes.

Fiat-backed stablecoins (e.g., USDC, USDT, EURC) are pegged to a fiat currency and backed by fiat or near-fiat reserves such as cash and short-term government bonds. Most regulatory frameworks — including MiCA, the GENIUS Act, and Singapore's MAS rules — focus primarily on fiat-backed stablecoins because they most closely resemble regulated electronic money. Crypto-backed stablecoins (e.g., DAI) use cryptocurrency collateral and face more varied regulatory treatment, often classified under broader DeFi or derivatives frameworks. Algorithmic stablecoins (e.g., the now-defunct TerraUSD/UST) maintain their peg through algorithmic supply adjustments rather than direct backing; following TerraUSD's collapse in 2022, many jurisdictions have explicitly prohibited or heavily restricted algorithmic stablecoins. Use the country table to filter by which stablecoin types are permitted in each jurisdiction.