Mapping the Global Race to Regulate Stablecoins

by Brunello Rosa and Nato Balavadze

In this paper we discuss:

• The geopolitics of digital currencies, with particular reference to stablecoins;
• The competing legislations on stablecoins; 
• The cases of US, UK, EU, Hong Kong and UAE; and
• The special position of Tether, which may apply to adopt US regulation. 

Download PDF: Stablecoins Regulation August 2025