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Stablecoin regulation by jurisdiction | CBSR evidence directory
Browse twelve source-bound stablecoin regulatory dossiers, with legal-force distinctions, review gaps and links to exact committed records.
United States
Read issuer-layer propositions separately from the foreign-issuer admission gate. The register distinguishes the enacted GENIUS Act from the commencement condition governing its Section 18 inbound pathway. Yield analysis also separates issuer restrictions from the then-pending intermediary-level Section 404 debate.
European Union
The EU dossier centres on MiCA e-money tokens: authorised issuer types, reserve composition, the holder-interest prohibition, and the non-Member-State-currency means-of-exchange mechanism. The reserve-percentage record expressly retains an unresolved Level-2 pinpoint; it is not a substitute for the relevant RTS text.
United Kingdom
The UK evidence distinguishes a made-but-not-commenced perimeter from its policy descriptions. A recorded interpretive gap concerns whether a qualifying stablecoin's UK lifecycle connection requires any one limb or all three. Holder-yield treatment remains unmapped in the record despite later policy documents being identified as leads.
Singapore
Singapore's records distinguish the Payment Services Act and DTSP regime from the MAS single-currency stablecoin framework. The latter is labelled finalized_policy_pending in the pinned snapshot. The SCS label's SGD/G10 and Singapore-issued scope, the no-lending/staking activity boundary, and the origin-egress constraint are distinct issues.
Hong Kong SAR
Hong Kong's dossier separates the Stablecoins Ordinance licensing perimeter, HKD-referencing offshore issuance, offering restrictions, reserve safeguards and the non-interest-bearing condition. Licence-cohort observations are operational facts and do not replace the legal test for a different issuer or product.
Mainland China
The Mainland China dossier records a prohibition framework rather than an issuer-licensing menu. It separates domestic virtual-currency activity, unauthorised overseas RMB-pegged issuance, PRC-controlled offshore entities, and the additional data and capital-flow constraints relevant to cross-border analysis. A Hong Kong licence does not erase the destination prohibition.
Brazil
Brazil's records use a virtual-asset-service and foreign-exchange frame rather than assuming a standalone stablecoin charter. SPSAV modalities, asset-curation rules, cross-border FX classification and eFX settlement-channel restrictions are separate controls. The snapshot also preserves an unsettled yield record and an explicitly unresolved market-share citation.
Switzerland
Switzerland's dossier distinguishes licensed issuance from the bank-default-guarantee pathway. The guarantee, holder identification and possible collective-investment characterisation matter more here than a fixed reserve-asset schedule. The record's treatment of interest is a structural guarantee question, not an assertion that every yield arrangement is authorised.
United Arab Emirates
The UAE dossier must be read by perimeter: CBUAE onshore payment-token rules differ from VARA, ADGM-FSRA and DIFC-DFSA arrangements. The key contrast is a general-payments channel reserved in the snapshot to licensed Dirham payment tokens, with foreign payment tokens treated differently. A free-zone reference cannot silently replace the onshore rule.
Taiwan
Taiwan's snapshot records an enacted-but-not-commenced stablecoin framework and separates it from the existing AML-registration layer. Subsidiary rules, commencement and the NTD-versus-USD peg question remain explicit dependencies. The snapshot's enactment wording and dates are historical source fields, not a new 17 October verification.
Japan
Japan's evidence separates the closed set of Electronic Payment Instrument issuer types from the registered EPIESP distribution channel. A foreign token's inbound route and its local-reserve and non-solicitation conditions are not automatic mutual recognition. Trust-type backing amendments and intermediary-level yield questions retain their own unresolved detail.
South Korea
South Korea's stablecoin-specific issuer, reserve, yield and cross-border proposals are marked pending_proposal in this snapshot. Competing bank-led and fintech-inclusive designs are draft-policy positions. They must not be reported as an operative licensing, reserve or interest regime merely because a draft has an official legislative URL.