the corridor layer · v0.11.0
The binding rule sits at the destination. So a corridor is read one direction at a time.
A dollar-referenced flow at retail scale meets legally different instruments in different places: a transaction cap in one, a professional-investor gate in another, an outright prohibition in a third. Which one binds a given flow is decided at the destination's inbound gate, with a drag from the origin. Feasibility is therefore directional, and it moves as regimes take effect.
the live register · the full interactive map
All 132 directed corridors across the twelve jurisdictions, read at the date set above. Computed from the register, not hard-coded.
why it is directional
A corridor's verdict is decided mostly by what the destination has written down. Whether the origin can issue an authorizable token at all is a drag on top. Which means the two directions across one border can give two different answers, and usually do.
56 of the 66 jurisdiction pairs in this register read differently depending on which way the money moves. A flat compliance table has one cell per pair. That is the whole problem, and it is why this dataset's unit is the directed edge rather than the jurisdiction.
Today US → EU clears and EU → US does not, though nothing bars it: the US regime is written and not yet in force. That distinction is easy to lose in prose. In data it has to be a named state, or the software reading it will treat “not yet commenced” as “in force”.
The class each edge carries
A class does not describe how hard a corridor is. It describes what is standing in the way. The distinction matters because two corridors that are equally impassable today can be impassable for entirely different reasons, with entirely different remedies.
| Class | What it means | What is in the way |
|---|---|---|
| Category I | Clears | Nothing. Each end is separately authorizable, and no equivalence step is required in this direction. |
| Category II | Gated | A recognition, equivalence, or comparability determination. It exists, it is not generically granted, and it usually rests on the destination's discretion. |
| Category III | Unresolved | The origin. It has no exportable, authorizable token, so the corridor reduces to partnership or coordination options rather than an application an issuer files itself. |
| Category T | In transition | Time. The destination has adopted a comprehensive regime that is not yet operative. Nothing is barred and nothing is settled; it resolves into another class on commencement. |
| Blocked | Blocked at destination | A prohibition. The destination bars issuance, so no positive trigger can complete an inbound corridor here. |
| Pre-regime | Pre-regime | The regime itself. The destination has no stablecoin regime in force, so there is no inbound authorization to obtain and no gate to clear. This is not the same as blocked, and not the same as in transition. |
why transition and pre-regime are separate states
Neither gives you a route today. But one has a fixed date on it and the other does not; one can be prepared for now, the other can only be waited on. Collapsing them into a single “unavailable” cell is exactly the compression that lets a model cite a statute that has not commenced as if it were current law.
The scheduled reclassifications
The unit here is the trigger, not the forecast. A trigger is a commencement or an enactment, never a market event. compose(as_of=…) applies every scheduled change in law, so a corridor reads one class today and another once a regime is operative.
| Date | Trigger | Edges affected | Change |
|---|---|---|---|
| 2027-01-18 | GENIUS Act §18 comparability gate commences. This is the outer date: it commences then, or 120 days after final rules issue, whichever comes first. | 8 → US | Category T → Category II |
| 2027-10-25 | The UK regime becomes operative (SI 2026/102). | 8 → UK | Category T → Category I |
Move the date control above past either row and both things follow: the verdict in the console, and the count of reclassified corridors. It is not an animation. It is the same compose() run at a different date.
A corridor whose verdict changes is not a defect. A verdict that never changes is, because it means nobody wrote down which pending instrument it was waiting on.
how to read a verdict
Every corridor verdict arrives with the material that makes it arguable. Without any one of these, what is left is an opinion.
The class
One of six named states. The class is not the conclusion; it names what is in the way.
The mechanism
The device that actually binds on this edge: an equivalence determination, an investor gate, a prohibition, or a commencement date that has not arrived.
The provision
A primary instrument with a pinpoint. Not “under MiCA”, but the article.
In force, or not
A separate field, not a caveat in prose. A statute that is written but not commenced cannot be cited as current law, and the build enforces that.
The date it was read
An answer with no date never goes stale and so never turns out to have been wrong. Every verdict carries an as_of.
The version
The register is dated by construction, so a citation that omits the version is a citation to nothing in particular. Every release carries a Zenodo DOI.