research and policy participation · papers, comments and dated evidence
The register is what these papers concluded, written as data.
Different outputs need different readings, so they are kept apart. The policy-participation index links only sources safe to publish. Long-form work carries the framework the register is built on; short-form work tracks the legislative record itself, written while it was still moving and not revised afterwards.
policy participation & research
Four materials with explicit boundaries
This is an index, not a second copy of the full summaries and evidence boundaries. Read the four material cards on the landing page for what each item does and does not establish. The MiCA response, receipt identifiers, and private access path are not public.
Working papers
Six papers carry the framework the register is built on. Five are posted; the corridor atlas is in preparation. Titles are left in the original language, because a title is a citation handle and a translated one retrieves nothing.
Analysis
Short-form work on the legislative record as it moved. Most of the 2026 series tracks a single provision — Section 404 of the US CLARITY Act — through markup, a procedural ruling, and into a three-agency rulemaking.
-
15 Jun 2026
Three Mechanisms, One Policy: Monetary Sovereignty in Cross-Border Stablecoin Regulation
A transaction cap, a professional-investor gate and an outright prohibition, read as three instruments serving one policy.
-
27 May 2026
Reves' Fourth Factor and Stablecoin Routing Across Six Jurisdictions
Whether the fourth factor directs Section 404 to step back when the routing destination is a fund registered under the Investment Company Act — and whether the parallel-track architecture that reading preserves is a US idiosyncrasy or a structural feature of Reves-style regimes.
-
23 May 2026
A Stablecoin Yield Rule Goes to Three Agencies
With the comparator phrase fixed at the 14 May markup, the substantive negotiation ends and a joint SEC / CFTC / Treasury rulemaking begins. What the two prongs actually hand the agencies is harder than the public debate suggests.
-
21 May 2026
The Regulatory Discount on Token Launches Is Closing
Of 118 tokens launched in 2025, 84.7 per cent trade below their listing valuation. Four frameworks now define a perimeter inside which one narrow class of launches can shed its implicit enforcement discount — and which side of it a token sits on decides what a high-FDV launch can defend.
-
19 May 2026
Three Currency Areas Are Forcing Stablecoins to Split
Why a single dollar-anchored rail cannot serve the European Union, Hong Kong and mainland China at scale. The yield prohibition leaks vertically; the architecture problem runs horizontally, and the horizontal version may matter more.
-
15 May 2026
What the Reed–Smith Procedural Ruling Settled About Section 404
The amendment that would have replaced the operative comparator phrase was ruled out of order. What survived is the word “solely” in the trigger clause — and the joint rulemaking now starts from a fixed comparator and a working “solely”.
-
11 May 2026
When Wallets Route Into Registered Funds
A user taps to route 500 USDC into a registered government money fund and signs. Is that signature a yield event the prohibition reaches, or a securities transaction it leaves alone? The question has a settled doctrinal home.
-
6 May 2026
Narrowing the Section 404 Prohibition — written input to the SEC Crypto Task Force
The author's proposed threshold NAV test, four on-chain metrics, and Committee Report language; listed on sec.gov on 7 May, not an SEC position or endorsement.
how to cite it
The register is dated by construction, so a citation that omits the version is a citation to nothing in particular. Cite the version you actually read, not “the website”.
Dataset Fan, Y. (2026). Cross-Border Stablecoin Register (v0.11.0) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.20730358
Licence data CC-BY-4.0 · code Apache-2.0
Dateline 20 August 2026
ORCID 0009-0005-6762-084X
Working papers are posted to SSRN; see the author page. Each register release is archived to Zenodo for a DOI. Analysis pieces are dated on the record they describe and are not revised afterwards — where a later step in the legislative process proved one of them wrong, that is itself part of the record.