United States

Regulatory Status

Jurisdiction code

US

Regime

Licensing

Regulator

FinCEN / SEC / CFTC / States

Governing law

BSA / State MTL / BitLicense (NY)

Travel Rule

Enforced

Tracked entities

3832

Recognized stablecoin backing

fiat-backed

Yield-bearing stablecoins

Restricted

Currency

USD

Regulatory approach

OCC supervises nonbank stablecoin issuers; Federal Reserve oversees bank holding companies; Treasury coordinates; Local State regulators handle state-chartered entities. This dual federal-state system allows for flexibility.

Licensed entities in United States

Showing 100 of 3,832 regulated-entity records tracked in United States by Plexo Institute.

Browse all 3,832 records in the regulated-entity registry, including the remaining 3,732 in United States.

Stablecoin laws in United States

Primary legal texts Plexo Institute tracks for United States.

• GENIUS Act (enacted 2025-07-18)

  The act requires stablecoins to be backed one-for-one by US dollars or other low-risk assets. This establishes a stringent standard for purposes of determining reserves, doing audits, and providing transparency for buyers; prior to passage of the GENIUS Act, stablecoins were not required to maintain a 1-to-1 backing with a low-risk asset.

• Digital Asset Market Clarity Act of 2025 ("Clarity Act") (Passed the House) (enacted 2025-07-17)

  The CLARITY Act is a landmark piece of U.S. legislation, passed by the House of Representatives on July 17, 2025, to establish a comprehensive regulatory framework for digital assets other than stablecoins (which are governed separately by the GENIUS Act). Its principal achievement is the formal division of regulatory jurisdiction by classifying digital assets into three categories: digital commodities (regulated by the CFTC), investment contract assets (regulated by the SEC), and permitted payment stablecoins (regulated by banking regulators).

• Wyoming Stable Token Act (enacted 2023-03-17)

  The Wyoming Stable Token Act is landmark state legislation authorizing Wyoming to issue a blockchain-based stablecoin backed by U.S. Treasury securities. The Act establishes a comprehensive regulatory and operational framework comprising nine statutory sections.

• New York Department of Financial Services (NYDFS) Virtual Currency Guidance (enacted 2022-06-08)

  Requires stablecoins issued under NYDFS supervision to be fully backed, with redemption rights and monthly attestations. Applies to issuers licensed under NYDFS's BitLicense.

Regulatory events in United States

Dated regulatory developments Plexo Institute tracks for United States, most recent first.

• Primary Effective Date (2027-01-18 · Regulatory)

  GENIUS Act becomes effective (18 months after enactment), unless implementing regulations finalized earlier; Federal and state regulatory regime becomes fully operational; permitted issuers may commence operations

• FDIC to Propose First "Genius Act" Stablecoin Rules (2025-12-02 · Regulatory)

  Acting Chair Hill confirms the FDIC will propose stablecoin application rules this month, the first regulations under the new Genius Act framework.

• Stage changed (2025-07-18 · Regulatory)

  Progressed to Live.

• Presidential Signature (2025-07-18 · Regulatory)

  President Trump signs GENIUS Act into law

• House Passage (2025-07-17 · Legislative)

  House passes GENIUS Act with bipartisan vote of 308–122

• Senate Passage (2025-06-17 · Legislative)

  Senate passes GENIUS Act with bipartisan vote of 68–30

• Bill Introduction (2025-05-21 · Legislative)

  GENIUS Act introduced in Senate by Sen. Bill Hagerty (R-TN)

Central bank digital currency in United States

Plexo Institute tracks 1 central bank digital currency programme in United States.

• Digital Dollar — Status: Cancelled · Central bank: Federal Reserve · Model: N/A · Technology: Project Hamilton (MIT DCI research concluded)

Relationship Graph

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Jurisdiction FAQ

Who regulates United States?

The current Plexo Institute record lists FinCEN / SEC / CFTC / States as the regulator for United States.

How many VASPs are tracked in United States?

3832 VASP/entity records are tracked by Plexo Institute in United States.

What is the Travel Rule status in United States?

The current Plexo Institute record lists the Travel Rule status for United States as Enforced.

Source Evidence

This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.

• FinCEN MSB Registry
• Atlantic Council Tracker
• Library of Congress
• NYDFS BitLicense