In less than 18 months, the global regulatory landscape for stablecoins and digital assets shifted from fragmented and uncertain to structured and convergent. The GENIUS Act was signed in the United States in July 2025, MiCA came into full effect in Europe in December 2024, and Brazil's Central Bank published Resolution 519/2025 and IN BCB nº 701/2026. For globally operating enterprises, this regulatory convergence is simultaneously an opportunity and an unprecedented operational challenge.
The GENIUS Act: The American Federal Framework
The GENIUS Act established the first federal framework for payment stablecoins in the US. Issuers must maintain 1:1 reserves in high-quality assets, submit to monthly public audits, and possess technical capability to freeze or destroy tokens when legally required.
MiCA: The Comprehensive European Regulation
MiCA is the world's most comprehensive regulatory framework for crypto-assets. It defines uniform rules for ART issuers, EMT issuers, and CASPs. For cross-border operations involving Europe, it requires CASP authorization, capital requirements, asset segregation, and Travel Rule compliance.
BACEN: Brazil at the Forefront
Brazil positions itself at the forefront of regulation in Latin America. IN BCB nº 701/2026 defined specific technical requirements for stablecoins: proof of reserves, governance, compliance, and internal controls.
The Multi-Jurisdiction Challenge
The real challenge is not complying with one jurisdiction — it's complying with all of them simultaneously. At Infracash, the compliance engine is configurable by jurisdiction, automatically applying the correct requirements for each operation.
References: GENIUS Act (2025), MiCA/ESMA (2024), BCB Resolution 519/2025, IN BCB nº 701/2026.