CASP Licence in Bulgaria: FSC Authorisation under MiCA
How the FSC licenses crypto-asset service providers in Bulgaria under MiCA: €50,000–150,000 capital, fees from €5,112.92, the end of NRA registrations and the EU sanctions perimeter.
Stablecoins
Crypto Licences by Jurisdiction: A Map of Twelve Regimes
MiCA CASP, VARA, ADGM, DIFC, SFC VATP, MAS DTSP, US BitLicense, FCA 2027, FINMA, AIFC, Japan and Korea compared on capital, custody, retail and travel rule.
Wholesale DLT Settlement: Choosing the Settlement Asset
Fnality, Partior, deposit tokens and wholesale CBDCs compared on the one axis that matters: whose obligation the ledger entry is, and what that does to credit risk and supervision.
Card Scheme Rules: Chargebacks, Interchange and Merchant Monitoring
How the Visa and Mastercard rulebooks create obligations: dispute deadlines, 2026 VAMP, ECM and BRAM thresholds, interchange caps in the EU, US and UK, scheme fees and 3-D Secure liability shift.
Japan and Korea: payment and crypto licences
Licensing in Japan and South Korea: funds transfer tiers, prepaid issuers, JPYC and JPYSC stablecoins, crypto moving into FIEA, Korea's VAUPA and EFTA, real-name accounts and 2024–2026 enforcement.
Issuing ARTs and EMTs under MiCA: the Token Issuer Regime
Titles III and IV of MiCA from the issuer's side: the ART/EMT test, Article 21 authorisation vs the Article 48 EMI route, own funds and 30% deposit floor, redemption at par, significant-token caps.
India and Brazil: the RBI and BCB payment regimes
PA and PA-CB licensing in India, the four Brazilian payment institution types, UPI and Pix access, zero MDR economics, RBI data localisation and the new PSAV regime for virtual assets.
Hong Kong: the Stablecoins Ordinance — the HKMA Issuer Licence and the Limits of the Regime
Cap. 656 since 1 Aug 2025: HKD 25m capital, one-business-day redemption, 36 applications and two licences by 10 Apr 2026 — who must license and who may sell.
Travel Rule: Two Regimes, Divergent Thresholds and the Data That Travels With a Transfer
The Travel Rule for bank and crypto transfers: FATF R.16 and R.15, data fields, thresholds (zero in the EU, £800 in the UK, USD 3,000 in the US, AED 3,500 in Dubai), self-hosted wallets.
US Financial and Crypto Licenses: Three Axes of Choice
Three axes decide a US regime: federal or state, deposit status, and Fed settlement access. Charters, ILCs, SPDIs, MTLs and the GENIUS Act from 18 Jan 2027.
NYDFS: BitLicense and the New York Trust Charter — Two Regimes for US Crypto
26 BitLicenses and 13 trust charters as of August 2026, an eight-coin Greenlist, 226.5m in penalties and the OCC charter migration reshaping New York after the GENIUS Act.
Fintech: licences, banking infrastructure, payments and stablecoins
Fintech regulation and operating infrastructure: licence selection, banking and safeguarding, acquiring, sanctions controls, stablecoins, crypto custody and regional regulatory regimes.
The UK in 2026–2028: EMI Safeguarding, the FCA Crypto Regime and the Payments Reform
CASS 15 safeguarding for UK EMIs, the FCA crypto regime from 25 October 2027, and proposed reforms for payments and sterling stablecoins.
The OCC National Trust Charter: a Bank Without Deposits for Crypto and Fintech
Fiduciary powers, preemption of some 50 state MTLs and life without FDIC: how Ripple, Circle and Morgan Stanley take a national trust charter — and what it buys.
SG-FORGE: Société Générale's MiCA Stablecoins
Société Générale's subsidiary issuing MiCA stablecoins on public chains, the only G-SIB to do so: how EURCV and USDCV work and why Euroclear is testing them for settlement.
Swiss fintech and crypto licences: Fintech licence, DLT trading facility and crypto institutions
Swiss financial and crypto licensing under the Banking Act and DLT Act: Fintech licence, bank and securities-firm status, DLT trading facilities, crypto custody, stablecoins, capital and substance.
GENIUS Act: the US Federal Regime for Payment Stablecoins
Three PPSI issuer tracks, 1:1 reserves, the yield ban, the January 18, 2027 start date and the July 18, 2028 cutoff — how the US federal stablecoin regime works.
The Digital Dollar in Four Legal Forms: Deposit Tokens, Stablecoins, EMTs and Tokenised Funds
Deposit tokens, payment stablecoins, MiCA e-money tokens and tokenised money market funds: legal nature, holder protection and balance-sheet risks — in one table.
Stablecoins in Asia: Hong Kong, Singapore, Japan, Korea and the Yuan Question
Hong Kong issued 2 licences out of 36 bids, Japan launched JPYC, Singapore awaits its law, Korea is split, China bans: Asia's stablecoin regimes compared.
Fed Payment Accounts: the Skinny Master Account and the End of the Sponsor-Bank Monopoly
The Fed's 20 May 2026 NPRM: direct Fedwire and FedNow access for trusts and SPDIs — a $1bn cap, zero interest, no ACH. What it breaks in BaaS.
Agentic Payments: Protocols and Liability When an AI Agent Pays
AP2, ACP, x402, Visa TAP and Mastercard Agent Pay: how mandates and Know Your Agent work — and who is liable when an AI agent initiates a payment.
UAE financial and crypto licences: CBUAE, VARA, DFSA, FSRA and SCA
Compare UAE financial and crypto licensing under CBUAE, VARA, DFSA, FSRA and SCA: activities, capital, local substance, stablecoin rules, distribution limits and regulator selection.
BVNK: Stablecoin Payment Infrastructure for Businesses
BVNK provides infrastructure for cross-border payments through stablecoins and bank rails. Products, licences, onboarding, pricing model and the acquisition by Mastercard.
Zero Hash: embedded crypto, custody and settlement infrastructure
Zero Hash: embedded crypto trading, custody, stablecoin payments, settlement and tokenisation for brokers, banks and fintechs. Licences, end-client agreements, pricing and OCC application status.
SoFi Bank and SoFiUSD: Banking, Crypto Trading and Stablecoin
SoFi Bank and SoFiUSD: national bank charter, banking and investment products, crypto trading, stablecoin reserves, FDIC, pricing and product limitations.
Conduit: B2B Payments Through Stablecoins
Conduit provides B2B cross-border payments through bank rails, virtual accounts and stablecoins. Routes in Latin America and Africa, pricing, timing, KYB, infrastructure and liquidity limits.
Avit: Tokenised Bank Deposit from Custodia and Vantage
Avit is a tokenised bank-deposit structure from Custodia Bank and Vantage Bank Texas. SPDI and FDIC roles, issuance and redemption, US–Mexico settlement, Hazel Network and master-account litigation.
Anchorpoint Financial: HKMA-Licensed Stablecoin Issuer
Anchorpoint Financial is an HKMA-licensed stablecoin issuer backed by Standard Chartered Hong Kong, Animoca Brands and HKT. Reserves, redemption, distribution via OSL and HashKey, HKDAP status.
Bridge (Stripe): Stablecoin Infrastructure and Preliminary OCC Approval
Bridge is Stripe's infrastructure for stablecoin payments, issuance, wallets and cards. Stripe acquisition, preliminary conditional OCC approval, products, onboarding and current limitations.
Flex (flex.one): Business Accounts, Cards and Payments Through Partner Banks
Flex is a fintech platform for US businesses, not a bank. Business accounts, cards, international payments, partner banks, FDIC sweep coverage, pricing, stablecoin features and onboarding limits.