Compliance Tracker
Where each assessed stablecoin stands under EU MiCA and the U.S. GENIUS Act, sourced from public registers, regulator notices, and issuer disclosures.
- 8%
- 260
- 444
MiCA
184 assessed
GENIUS
260 assessed
How to read status
MiCA authorized means the issuer holds an in-effect EMI or credit-institution authorization listed on a competent-authority register. Pending, transitional, non-compliant, and out-of-scope retain the existing MiCA editorial meanings.
GENIUS rows are not compliance approvals. They track source-backed public posture such as issuer-announced intent, regulator-sourced applications, or future PPSI approvals once the regime is operational.
GENIUS regime state
- Public law
- 2025-07-18
- Effective date
- 2027-01-18
- Phase
- proposed rules
Sources (18)
- Treasury GENIUS Act implementation ANPRM (90 FR 45159)
- FDIC proposed approval requirements for IDI subsidiary issuers (90 FR 59409)
- NCUA proposed investments in and licensing of PPSIs (91 FR 6531)
- OCC proposed GENIUS implementing rule (91 FR 10202)
- Treasury proposed state-regime substantial-similarity principles (91 FR 16844)
- FinCEN and OFAC proposed PPSI AML/CFT and sanctions programs (91 FR 18582)
- FDIC proposed PPSI requirements and standards (91 FR 18534)
- NCUA supplemental proposed GENIUS implementing rule (91 FR 28956)
- FDIC proposed PPSI BSA and sanctions standards (91 FR 34171)
- OCC proposed PPSI reporting forms (91 FR 35795)
- Joint proposed PPSI customer identification program (91 FR 37234)
- OCC proposed PPSI AML/CFT and sanctions risk management (91 FR 37840)
- FDIC proposed PPSI reporting forms (91 FR 45274)
- OCC proposed GENIUS licensing and registration application forms (91 FR 47032)
- Treasury proposed issuance, offer, and sale regulations (91 FR 53368)
- Federal Reserve proposed GENIUS responsibilities rule (91 FR 61580)
- Federal Reserve proposed IDI subsidiary application procedures (91 FR 61346)
- SCRC interim final procedural rule for state certifications (91 FR 61688)
Pair this with Screener and Safety Scores for the non-legal risk picture.
Frequently asked questions
What does the compliance tracker show?
It maps assessed stablecoins to public, sourced regulatory facts. MiCA rows cover EU authorization status, EMT/ART token type, competent authority, issuer entity, and register references. GENIUS rows are implementation-watch signals while the U.S. regime is pre-effective.
Why are GENIUS rows separated from the main table?
Pharos keeps GENIUS rows in Implementation Watch until an explicitly reviewed release marks the regime effective. Active assets then become eligible for the main table; pre-launch assets remain in Watch until normal catalog activation. Issuer-specific approval evidence does not bypass the regime phase or change an asset's lifecycle.
What is the difference between an EMT and an ART?
An e-money token (EMT) references a single official currency. An asset-referenced token (ART) references a basket or other value, such as a multi-currency mix or a commodity. ARTs are rare in the tracked set.
Is this legal or compliance advice?
No. The tracker is an informational surface with sourced links, not legal advice. Statuses are editorial assignments against public registers, regulator notices, and issuer disclosures, and may lag real-world authorizations or restrictions.
