EU MiCA authorization status and U.S. GENIUS Act implementation-watch signals across assessed stablecoins — sourced to public registers, regulator notices, and issuer disclosures.
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
Sources: OCC Bulletin 2026-3, FDIC proposed PPSI application procedures, FDIC proposed PPSI requirements and standards, FinCEN and OFAC proposed PPSI AML/CFT rule, Treasury proposed state regime comparability rule, FDIC proposed PPSI requirements and standards (May 2026), NCUA proposed PPSI application procedures, NCUA proposed PPSI requirements and standards (May 2026). Pair this with Screener and Safety Scores for the non-legal risk picture.
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.
The GENIUS Act is enacted, but the general regime is not yet effective. Pharos keeps GENIUS rows in an implementation-watch section until the Act is effective or official regulator approvals can be displayed without implying current compliance.
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.
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.
GENIUS effective-date state: proposed rules · reviewed 2026-06-07
Authorization Table
Active, assessed stablecoins only. Frozen and pre-launch assets are excluded from the main table.
GENIUS Implementation Watch
Source-backed signals before the Act is generally effective; these rows are not compliance determinations.
| Coin | Regime | Status | Pathway / Type | Authority | Issuer Entity | Sources |
|---|---|---|---|---|---|---|
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | BMA (current); OCC national trust bank application for Agora National Trust Bank (filed 2026-04-20, under review) | Agora Bermuda LimitedBermuda | ||
| GENIUS | Issuer Intent | Pathway unresolvedApparent payment stablecoin | FinCEN / state money transmitter regulators | Bridge Building Inc.United States | ||
| GENIUS | Issuer Intent | Pathway unresolvedApparent payment stablecoin | NYDFS (Limited Purpose Trust Charter + BitLicense) / state Money Transmitter Licenses (49 states); potential GENIUS pathway undeclared | MoonPay USA LLCUnited States | ||
| GENIUS | Issuer Intent | IDI subsidiaryApparent payment stablecoin | - | Fiserv, Inc. (platform/infrastructure provider); participating bank clients as IDI-subsidiary issuersUnited States | ||
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC (targeted; GENIUS Act nonbank PPSI pathway; no application on file as of 2026-06-07) | Financial Reserves and Asset Exploration Inc. (dba FRAX Inc)United States | ||
| GENIUS | Issuer Intent | Pathway unresolvedApparent payment stablecoin | FinCEN / state money transmitter regulators (NMLS #2450917); OCC conditionally approved a new entity 'Bridge National Trust Bank' (CD-1365, Feb 2026) — not yet a final federal charter for Bridge Building Inc. | Bridge Building Inc.United States | ||
| GENIUS | Issuer Intent | Federal qualified issuerUnclear | OCC (conditional trust charter, Feb 2026); FinCEN / state money transmitter regulators (current) | Bridge Building Inc. (OCC national trust bank applicant; wholly owned by Stripe)United States | ||
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC | Paxos Trust Company, N.A.United States | ||
| GENIUS | Issuer Intent | State qualified issuerApparent payment stablecoin | NYDFSNYDFS (current issuer charter); OCC conditional national trust bank charter pending (Ripple National Trust Bank) | Standard Custody & Trust Company, LLCUnited States | ||
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC | Anchorage Digital Bank, N.A.United States | OCC: Anchorage national trust bank charter (January 2021)Tether USAT launch announcement (January 27, 2026)Anchorage Digital Bank: First federally chartered stablecoin issuer following GENIUS ActAnchorage Digital comment letter on OCC GENIUS Act NPRMOCC GENIUS Act NPRM Bulletin 2026-3 (February 25, 2026)Anchorage USAT reserve attestations | |
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC (BitGo Bank & Trust conditional approval Dec 2025; WLTC Holdings OCC application Jan 2026) | BitGo Trust Company / BitGo Bank & Trust, N.A. (OCC conditional approval Dec 2025; current issuer); WLTC Holdings LLC / World Liberty Trust Company, N.A. (de novo OCC national trust charter application pending, filed Jan 2026)United States | OCC Bulletin 2026-3 GENIUS proposed ruleOCC Dec 12 2025 conditional approval — BitGo Bank & Trust, N.A. national trust charterOCC digital assets licensing — World Liberty Trust Company applicationWorld Liberty Financial USD1 pageBitGo USD1 attestationsWLTC Holdings OCC charter application announcement (BusinessWire Jan 2026)WLFI USD1 official documentation — BitGo as legal issuer | |
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC (conditional national trust bank charter — Bridge National Trust Bank, NY); FinCEN/state MTLs for current MSB operations | Bridge Building Inc.United States | ||
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC (conditional national trust bank charter for First National Digital Currency Bank, N.A.; current issuer licensed as state MTL/NYDFS BitLicense) | Circle Internet Financial, LLCUnited States | ||
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC | Anchorage Digital Bank, N.A.United States | ||
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC (conditional national trust bank charter granted Feb 12 2026) / FinCEN MSB | Bridge Building Inc.United States | ||
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC | Paxos Trust Company, N.A.United States | ||
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC | Anchorage Digital Bank, N.A.United States | OCC Bulletin 2026-3 GENIUS proposed ruleOCC: Anchorage national trust bank charter conditional approval (2021)OCC consent order against Anchorage Digital Bank for BSA/AML (April 2022, terminated August 2025)Anchorage Digital: GENIUS Act comment letter and PPSI intent statementAnchorage Digital: First federally chartered stablecoin issuer post-GENIUS ActWestern Union USDPT pageWestern Union USDPT announcement | |
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | FinCEN / state money transmitter regulators | Bridge Building Inc.United States | ||
| GENIUS | Issuer Intent | Foreign registered issuerApparent payment stablecoin | CNAD | Tether International, S.A. de C.V.El Salvador | ||
| GENIUS | Issuer Intent | Federal qualified issuerApparent payment stablecoin | OCC | Anchorage Digital Bank, N.A.United States | ||
| GENIUS | Issuer Intent | Pathway unresolvedApparent payment stablecoin | - | Sonic Labs / Sonic USA LLC (Delaware)United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | GAIBSingapore | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Preference Capital (BVI) Ltd. / ApyxBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | ASIC AFSL No. 700123 | AUDC Pty LtdAustralia | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | Avant Protocol FoundationBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | MU Digital | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Cygnus Information LimitedHong Kong (primary); US presence via ARKS Labs FinCEN MSB registration No. 31000226418649 (Aurora, CO) | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Cap Protocol | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | MakerDAO / Sky Protocol governance | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Trinity Foundation Ltd.Singapore | ||
| GENIUS | No Public Auth Found | State qualified issuerApparent payment stablecoin | Nebraska Department of Banking and Finance | Telcoin, Inc. / Telcoin Digital Asset BankUnited States | ||
| GENIUS | No Public Auth Found | State qualified issuerApparent payment stablecoin | Nebraska Department of Banking and Finance | Telcoin, Inc. d/b/a Telcoin Digital Asset BankUnited States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Electronic Dollar governance / Reserve Protocol RToken governors | ||
| GENIUS | No Public Auth Found | Foreign registered issuerApparent payment stablecoin | - | FD121 (BVI) LimitedBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Federal qualified issuerApparent payment stablecoin | OCC | Fidelity Digital Assets, National AssociationUnited States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Frax DAOUnited States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | Bermuda Monetary Authority (digital asset business license) | FinChain Bermuda LimitedBermuda | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | NYDFS | Gemini Trust Company, LLCUnited States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | NYDFSNYDFS limited purpose trust company | GMO-Z.com Trust Company, Inc.United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | Berachain Foundation (Cayman Islands)Cayman Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | Jupiter (Solana DEX aggregator, no disclosed US legal entity; Ethena Labs operates issuance backend) | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | M0 Foundation (Swiss protocol/governance entity); actual minting by separately permissioned Minter entities (e.g. MXON, Anchorage Digital, Bridge/Stripe)Switzerland | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | FSRC | MNEE LimitedAntigua and Barbuda | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | FinCEN / state money transmitter regulators; Metropolitan Capital Bank & Trust banking partner context | CFX Labs Inc.United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | FinCEN / state money transmitter regulators; NMLS ID #2376957 | Brale Inc.United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Nest (Marshall Islands DAO LLC)Marshall Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | Reservoir Protocol (incubated by Fortunafi)Cayman Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | RIB Digital Holdings LimitedHong Kong | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | FinCEN / state money transmitter regulators (registered MSB, 45 US jurisdictions) | Brale Inc.United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | OCC | SoFi Bank, N.A.United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Solayer Labs, Inc.United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | TechteryxBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | United Stables LimitedBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Usual DAOFrance | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | FinCEN MSB / 17 US state no-objection letters; BitGo Trust qualified custodian | Anzens Inc.United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | USD.AI FoundationCayman Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | SaturnBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | ACPR; MiCA electronic money institution | Société Générale - FORGEFrance | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | TRON DAO ReserveDominica | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Ethena (BVI) LimitedBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | NYDFSNYDFS virtual currency and money transmitter licenses; OCC conditional national trust charter (April 2026, custody-only, not a PPSI approval) | Coinbase, Inc.United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | MAS | Paxos Digital Singapore Pte. Ltd.Singapore | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | FinCEN / state money transmitter regulators | Brale Inc.United States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | Anjouan Offshore Finance Authority | KAST Tech (Reg No. 16223, Anjouan, Comoros)Union of Comoros | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | Ministry of Finance of the Kyrgyz Republic | OJSC Virtual Asset Issuer (state-owned, Ministry of Finance of the Kyrgyz Republic); Gold Dollar operates the issuance; LLC Virelint Group previously cited as operatorKyrgyz Republic | ||
| GENIUS | No Public Auth Found | Foreign registered issuerApparent payment stablecoin | - | Mento Labs GmbHGermany | - | |
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | MegaUSD (BVI) LtdBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | FinCEN MSB #31000327040139; Finanstilsynet / NBX EEA issuance | Moneta Digital LLC / Norwegian Block Exchange ASUnited States / Norway | ||
| GENIUS | No Public Auth Found | Foreign registered issuerNon-payment token | - | OpenEden Digital (OED)Bermuda | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Ondo Global Markets (BVI) Limited | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | DNB; MiCA electronic money institution | Quantoz Payments B.V.Netherlands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | MFSA; MiCA electronic money institution | StablR LtdMalta | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Sky Protocol governance | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | Startale GroupSingapore | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | Hex Trust Digital AssetsHong Kong | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Anzen Group LtdBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | Noon CapitalBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Foreign registered issuerApparent payment stablecoin | - | WEMIX PTE. LTD.Singapore | - | |
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | - | WSPN Fintech LimitedBritish Virgin Islands | ||
| GENIUS | No Public Auth Found | Pathway unresolvedUnclear | - | Metallicus / Metal DAOUnited States | ||
| GENIUS | No Public Auth Found | State qualified issuerApparent payment stablecoin | NYDFSFinCEN / NYDFS / state money transmitter regulators | MoonPay USA LLCUnited States | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | Monetary Authority of Singapore Major Payment Institution; MAS SCS substantive-compliance acknowledgement | StraitsX / Xfers Pte. Ltd.Singapore | ||
| GENIUS | No Public Auth Found | Pathway unresolvedApparent payment stablecoin | MAS | StraitsX USD Issuance Pte. Ltd.Singapore | ||
| GENIUS | Not Applicable | Not applicableNon-payment token | - | Moon Gold El Salvador, S.A. de C.V. / Moon Gold NA, S.A. de C.V. | ||
| GENIUS | Not Applicable | Not applicableExcluded security | SEC registered investment company context | Franklin TempletonUnited States | ||
| GENIUS | Not Applicable | Not applicableExcluded security | Swiss DLT Act registered uncertificated securities framework | Backed Assets (JE) LimitedJersey | ||
| GENIUS | Not Applicable | Not applicableExcluded security | - | BlackRock / Securitize | ||
| GENIUS | Not Applicable | Not applicableNon-payment token | - | Gate Technology Inc. (Cayman Islands)Cayman Islands | ||
| GENIUS | Not Applicable | Not applicableExcluded security | Liechtenstein FMA (prospectus-approving authority for Liechtenstein Derivative Debt Instrument; issuer domiciled in Germany under EU Prospectus Regulation / MiFID II financial-instrument framework) | Midas Software GmbHGermany | ||
| GENIUS | Not Applicable | Not applicableExcluded security | SEC Reg D / qualified purchaser context | Ondo FinanceUnited States | ||
| GENIUS | Not Applicable | Not applicableNon-payment token | - | Resilience FoundationCayman Islands | ||
| GENIUS | Not Applicable | Not applicableExcluded security | BVI FSC — Registered Professional Fund | Treasury Bills Institutional Liquidity Limited (OpenEden)British Virgin Islands | ||
| GENIUS | Not Applicable | Not applicableNon-payment token | - | Falcon Digital LimitedBritish Virgin Islands | ||
| GENIUS | Not Applicable | Not applicableNon-payment token | - | NASD Inc (Noble)United States | ||
| GENIUS | Not Applicable | Not applicableExcluded security | - | Ondo Global Markets (BVI) LimitedBritish Virgin Islands | ||
| GENIUS | Not Applicable | Not applicableExcluded security | SEC — private Section 3(c)(7) fund exempt from Investment Company Act registration; offered under Reg D Rule 506(c); N-1A pending for conversion to registered MMF | Superstate Trust (d/b/a Superstate Short Duration U.S. Government Securities Fund; pending rename to Invesco Short-Duration U.S. Government Securities Fund upon Invesco takeover, expected mid-2026)United States | ||
| GENIUS | Not Applicable | Not applicableExcluded security | - | Circle International Bermuda Limited (token administrator, BMA-licensed); Hashnote International Short Duration Fund Ltd. (Cayman Islands mutual fund)Bermuda / Cayman Islands | ||
| GENIUS | Not Applicable | Not applicableExcluded security | SEC — registered under Investment Company Act of 1940, Rule 2a-7 government money market fund | WisdomTree Digital Management, Inc. (fund manager) / WisdomTree Digital Trust (fund issuer)United States | GENIUS Act Public Law 119-27 — payment stablecoin definition and securities exclusionOCC Bulletin 2026-3 GENIUS proposed ruleWisdomTree GENIUS Act compliance disclosure — WTGXX as reserve assetWisdomTree USDW stablecoin launch — separate GENIUS Act-intent payment stablecoinWisdomTree Treasury Money Market Digital Fund (WTGXX) product page | |
| GENIUS | Not Applicable | Not applicableExcluded security | SEC (Investment Company Act of 1940, face-amount certificate company) | Figure Certificate CompanyUnited States |