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For each security service, see which jurisdictions trigger it and how attractive each market is right now.
Proof of Reserves
← back to all servicesTop markets for Proof of Reserves
| Country | Region | Lead regulator | Maturity | Next deadline | Days | Score |
|---|---|---|---|---|---|---|
| BR — Brazil | LATAM | BCB | High | 2026-10-30 | 155 | 82.9 |
| DE — Germany | EU | Bundestag | High | — | — | 63.4 |
| HK — Hong Kong | APAC | SFC | High | — | — | 63.4 |
| GB — United Kingdom | EU | FCA | High | 2027-10-25 | 515 | 63.2 |
| SG — Singapore | APAC | MAS | High | — | — | 60.6 |
| AE — United Arab Emirates | MENA | CBUAE | Medium | — | — | 56.8 |
| AR — Argentina | LATAM | BCRA | Medium | — | — | 56.8 |
| TR — Türkiye | MENA | null | Medium | — | — | 56.8 |
| US — United States | NA | IRS | Medium | — | — | 51.0 |
| IT — Italy | EU | Parlamento Italiano | Medium | — | — | 48.2 |
| ZA — South Africa | Africa | SARS | Medium | — | — | 48.2 |
| JP — Japan | APAC | FSA | Medium | — | — | 45.3 |
Norms that trigger Proof of Reserves
This law establishes a federal licensing framework for payment stablecoin issuers, known as Permitted Payment Stablecoin Issuers (PPSIs). It mandates 1:1 reserves, monthly public reserve reporting, and par value redemption.
This ordinance concerns tax reserve certificates and does not contain provisions related to crypto-assets.
This ordinance governs the Tax Reserve Certificates (TRCs) scheme, a government savings program for taxpayers in Hong Kong. It is unrelated to the regulation of crypto-assets.
This norm establishes a licensing regime for stablecoin issuers in Hong Kong. It covers licensing criteria, reserve management, redemption rights, and AML/conduct rules.
This notice appears to regulate interest rates for tax reserve certificates and does not contain any provisions related to crypto-assets.
This ordinance establishes a mandatory licensing regime for issuers of specified stablecoins in Hong Kong. It also regulates the offering, advertising, and fraudulent activities related to these assets.
This regulation establishes a licensing and registration framework for payment token (stablecoin) services in the UAE. It covers issuance, custody, and conversion, distinguishing between AED-backed tokens (licensed) and foreign currency-backed tokens (registered).
This decree implements the EU's MiCA regulation in Italy. It designates CONSOB and the Bank of Italy as the competent national authorities for supervising crypto-asset services and issuers.
Requires licensed and provisional CASPs to submit operational and risk data. The request covers AML, custody, stablecoins, reserves, consumer protection, and cross-border activity.
This framework applies to single-currency stablecoins (SCS) issued in Singapore and pegged to the Singapore Dollar or any G10 currency. It establishes requirements for reserve assets, capital, redemption, and disclosure.
This regulation establishes an authorization and prudential supervision regime for electronic money issuers. It applies to fiat-referenced crypto-tokens if they meet the legal definition of e-money.
This guidance clarifies rules for communicating or approving financial promotions for qualifying cryptoassets in the UK. It focuses on ensuring promotions are fair, clear, and not misleading, covering various models like stablecoins and yield products.
This consultation paper proposes rules for the issuance of qualifying stablecoins and the custody of qualifying cryptoassets in the UK.
This regulation establishes a mandatory registration regime for Virtual Asset Service Providers (VASPs) in Argentina. It imposes comprehensive duties including AML, cybersecurity, asset segregation, and public proof-of-reserves.
This act implements the EU's MiCA regulation in Germany, designating BaFin as the competent authority. It defines supervisory powers, authorization procedures, and transitional rules for existing crypto service providers.
This is an umbrella law implementing the EU's MiCA, TFR, and DORA regulations in Germany. It creates the KMAG (Crypto Markets Supervision Act) and amends various existing financial laws.
This act regulates payment services and e-money business in Germany. It establishes a licensing and supervision framework for payment and e-money institutions, which applies to crypto-asset models that fall under these definitions.
This resolution establishes a licensing framework for Virtual Asset Service Providers (VASPs) in Brazil. It defines VASP categories, operational rules, governance, and asset segregation requirements.
This norm details the requirements for a mandatory technical certification by an independent firm. This certification is a prerequisite for entities seeking to provide crypto-asset intermediation and custody services in Brazil.
This regulation implements the 2022 amendment to the Payment Services Act, establishing a new framework for 'Electronic Payment Instruments' (stablecoins) and 'Exchange Transaction Analysis Business'.
This law establishes a licensing framework for payment institutions and electronic money institutions in Turkey. It regulates payment services, systems, and the issuance of electronic money.