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DFR Publication

Policy & compliance

Crypto & DeFi regulation

Decentralized Finance Publication’s regulation hub summarises policy affecting DeFi and stablecoins — including MiCA, the US GENIUS Act, and major licensing regimes — with links to evergreen explainers and related news coverage. This is an educational overview only; not legal or financial advice.

MiCA (EU)

Markets in Crypto-Assets regulation entered enforcement in 2024–2025, requiring CASP licensing for exchanges and stablecoin issuers operating in the EU.

StablecoinsExchangesEU

GENIUS Act (US)

US payment-stablecoin licensing and 1:1 reserves. Agencies missed the 18 July 2026 finals deadline; plan on 18 January 2027 unless the Federal Register says otherwise.

USDCUSDTUnited States

Hong Kong licensing

Hong Kong's SFC licensing regime for virtual asset trading platforms and stablecoin issuers expanded in 2025–2026.

AsiaExchanges

Dubai VARA

Dubai's Virtual Assets Regulatory Authority continues licensing crypto exchanges and token issuers in the UAE.

Middle EastExchanges

FCA landmark rules (UK)

UK crypto-firm authorisation, consumer dates and the FCA register live on Digital Assets UK — the sister publication for HMRC and FCA primary sources, not this DeFi research desk.

United KingdomFCAHMRC

DeFi protocol liability

Regulators increasingly scrutinise whether front-end operators, DAO contributors, and protocol founders bear liability for user losses.

DeFiGovernance

RWA tokenisation

Tokenised treasuries and private credit crossed $20B+ in 2025–2026, raising securities law questions across jurisdictions.

RWAInstitutional

Evergreen explainers

Related news coverage

Compare stablecoin regulatory models

See how USDC, USDT, DAI, and USDe differ on reserves, governance, and decentralisation.

USDC vs USDT

FAQ

Frequently asked questions

What is MiCA regulation?

MiCA (Markets in Crypto-Assets) is the EU's comprehensive crypto regulation framework requiring licensing for crypto asset service providers and stablecoin issuers operating in the European Union.

How does US stablecoin regulation affect DeFi?

US stablecoin legislation such as the GENIUS Act framework defines reserve and disclosure requirements for payment stablecoin issuers, which affects USDC and USDT availability and compliance across DeFi protocols.