Advising institutions at the frontier of finance, technology and regulation
SAFAID maintains a continuous record of the statutes, regulations and standards governing digital assets, payments, artificial intelligence, financial crime and climate markets, and advises regulators, public institutions and licensed firms on the obligations those instruments create. The same practice extends into the technologies those regulators are only beginning to write rules for: physical AI, agentic payments, PropTech, zero-knowledge proofs for governments, embedded development finance and neobank infrastructure.
The compliance horizon
Every date on which an obligation commences, lapses or falls for decision, plotted against a single calendar. The marker moves with the clock.
July 2025 to December 2028
Scroll horizontally to view the full period. Every date is also listed in the register below.
Register of tracked instruments
Filter by domain. Open any row for the obligations it creates and the source it is verified against.
20 of 20 instruments shown.
| Ref | Instrument | Position | Status | Next event | Detail |
|---|---|---|---|---|---|
| VA-01 | Stablecoin ActCanada · S.C. 2026, c. 3 · Bill C-15 | Royal Assent received 26 March 2026 through the Budget 2025 Implementation Act. Enacted but not yet in force. Draft regulations are expected for consultation later in 2026. | Not in force | Draft regulationsCommencement is not expected before mid-February 2027. | |
| VA-02 | Digital Asset Market Clarity ActUnited States · H.R. 3633 | Passed the House 17 July 2025. The Senate vote on cloture on the motion to proceed failed 49 to 50 on 15 September 2026, short of the 60 required. Senator Tillis voted no in order to move to reconsider. Disputes over ethics provisions and stablecoin yield blocked it, and the shortened calendar before the midterm elections makes passage in this Congress unlikely. | Stalled in the Senate | 20 October 2026Comments due on the SEC proposal that now carries the agenda (VA-06). | |
| VA-03 | Markets in Crypto-Assets RegulationEuropean Union · Reg. (EU) 2023/1114 | The Article 143 transitional regime expired 1 July 2026. ESMA confirmed in April that there would be no extension. | Transition closed | SupervisionAction against unauthorised providers. | |
| VA-04 | Virtual Assets Act, 2026Pakistan · PVARA | Passed March 2026, replacing the 2025 Ordinance and establishing PVARA as a permanent statutory authority. No Objection Certificates went to Binance and HTX in December 2025, and the deadline for existing providers to obtain one fell on 5 September 2026. | In force | Final regulationsConsultation closed 2 July 2026. Final regulations and full licensing are still to follow. | |
| VA-05 | GENIUS Act (payment stablecoins)United States · Enacted July 2025 | Enacted. Its operative provisions apply on the earlier of 18 January 2027 or 120 days after final regulations. Treasury, the OCC, FinCEN and OFAC have each proposed rules, and none is final. | Rulemaking | 18 January 2027Latest statutory effective date. The OCC aims to finalise by November 2026. | |
| VA-06 | Regulation Crypto Assets and CFTC crypto market rulesUnited States · SEC and CFTC | With the CLARITY Act stalled, the SEC and CFTC are acting by rulemaking. The SEC proposed Regulation Crypto Assets on 18 August 2026. The CFTC sent its crypto asset transactions and markets rulemaking to OIRA on 17 September 2026. Both build on the joint interpretation of 17 March 2026. | Proposed | 20 October 2026Comments due on the SEC proposal. | |
| VA-07 | Cryptoasset regimeUnited Kingdom · FCA PS26/9 to PS26/13 | The FCA published five final policy statements on 30 June 2026 covering admissions and market abuse, stablecoin issuance, regulated activities, prudential rules and Handbook application. The regime is expected to commence on 25 October 2027. | Final rules | 28 February 2027Scheduled close of the authorisation application window. | |
| VA-08 | Digital assets frameworkAustralia · Corporations Amendment (Digital Assets Framework) Act 2026 · Act No. 38 of 2026 | Royal Assent 8 April 2026. Digital asset platforms and tokenised custody platforms become financial products under the Corporations Act and require an Australian financial services licence. A six month transition follows commencement. | Enacted, not in force | April 2027Commencement of the framework. | |
| VA-09 | Payment Services Act amendmentsSingapore · MAS · Payment Services Act 2019 | The Monetary Authority of Singapore opened a consultation on 1 September 2026 on amendments to the Payment Services Act, covering digital payment token and stablecoin activity. | Consultation | LegislationFollowing the MAS consultation of September 2026. | |
| VA-10 | Payment token services and Central Bank LawUnited Arab Emirates · CBUAE · PTSR Circular 2/2024 · Federal Decree Law 6 of 2025 | Dirham backed payment tokens are regulated by the Central Bank under the Payment Token Services Regulation. The new Central Bank Law widens the Central Bank perimeter over payment related virtual asset activity, and its transition period has now run. | Monitoring | SupervisionEnforcement of the widened perimeter. | |
| VA-11 | Virtual asset regimeSaudi Arabia · Capital Market Authority · SAMA | No comprehensive licensing regime for virtual assets is in force. The Capital Market Authority and the Saudi Central Bank have issued warnings and are working on tokenisation and payment frameworks. | Monitoring | FrameworkPublication of a consultation draft. | |
| VA-12 | Virtual Asset Service Providers ActKenya · Act 2025 · Legal Notice 134 | The Act took effect 4 November 2025, gazetted 21 October 2025. Legal Notice 134 sets minimum capital by activity. Rwanda has a draft law, Uganda has none, Tanzania discourages use and Ethiopia prohibits it. | In force | LicensingFirst authorisations under the Act. | |
| PM-01 | Payments regulation reformUnited Kingdom · HM Treasury | HM Treasury consulted from 14 July to 6 October 2026 on reform of the payments regulatory framework, including the allocation of responsibilities between regulators. | Consultation | ResponseGovernment response to the consultation. | |
| PM-02 | Retail Payment Activities ActCanada · Bank of Canada · Payments Canada | Payment service providers are registered with the Bank of Canada and supervised for risk management and safeguarding. Payments Canada is delivering the Real-Time Rail, and the consumer-driven banking framework is being phased in. | In force | Real-Time RailLaunch timing set by Payments Canada. | |
| FC-01 | Travel rule and Recommendation 16FATF · Revised June 2025 · R.15 and R.16 | The revised standard restructures originator and beneficiary data across the payment chain, and reaches virtual asset transfers through the interpretive note to Recommendation 15. Beneficiary verification against the account record is the new obligation. | Transition period | End 2030National implementation expected. | |
| AI-01 | Artificial Intelligence Act, as amendedEU · Reg. 2024/1689, amended by Reg. 2026/1744 | The Digital Omnibus on AI entered into force 27 July 2026, six days before the original high-risk deadline. | Phased, amended | 2 December 2026Marking of synthetic content. | |
| AI-02 | Embodied and physical AI systemsEU · Reg. (EU) 2023/1230 · Emerging coverage | The Machinery Regulation applies from 20 January 2027. Where AI governance meets product safety law, models inside machinery become a conformity assessment question. | Monitoring | 20 January 2027Machinery Regulation applies. | |
| AI-03 | Federal and state AI lawUnited States · Federal policy · state statutes | There is no comprehensive federal AI statute. Obligations come from state laws, sector regulators and federal policy. Several state laws have been delayed or amended, and federal preemption remains contested. | Fragmented | PreemptionFederal action on state AI laws. | |
| AI-04 | AI governance outside the EUUnited Kingdom, Canada, Australia | None of the three has enacted a dedicated AI statute. The United Kingdom and Australia rely on existing regulators and guidance. Canada's Artificial Intelligence and Data Act lapsed with the 2025 prorogation. | No statute | LegislationNo bill scheduled. | |
| CM-01 | Article 6.4 crediting mechanism and CORSIAUNFCCC · PACM · ICAO | Foundational standards were endorsed at COP30 and the first credit under the Paris Agreement Crediting Mechanism was issued in February 2026. | Operational | 1 January 2027CORSIA becomes mandatory for all states. |
Sources are drawn from the Official Journal, the Canada Gazette, Congress.gov, regulator and FATF publications, national gazettes and UNFCCC records.
This register summarises the public record and does not constitute legal advice.
Two references maintained in full
Beyond the register, SAFAID publishes a small number of worked instruments. Each is traced to source documents and revised as the underlying record changes.
Budget Lens
Rs 18,771bnPakistan federal budget FY2026-27, total outlay
The federal budget rendered as an examinable document. Outlay, revenue and allocation traced line by line against Finance Ministry sources, including the Rs 15,264bn Federal Board of Revenue target.
Open Budget Lens →Pakistan Regulatory Tracker
Ordinance to Act to licenceVirtual Assets Act 2026 and subordinate rulemaking
Every step from the 2025 Ordinance through the 2026 Act to the licensing regulations now in consultation, with advisories, sandbox guidelines and authorisation decisions recorded against the instrument that effected each one.
Publication forthcomingWhat we do with the record, and beyond it
Monitoring is the input, not the product. Institutions engage SAFAID to convert the record into obligations, controls and evidence a supervisor will accept, and to build the systems those rules will eventually govern.
Licensing and authorisation
Application strategy, jurisdiction selection and submission drafting for stablecoin issuers and virtual asset service providers, from initial clearance through full authorisation.
Travel rule, AML and CFT
Travel rule implementation across fiat and virtual asset rails, KYC and KYB programme design, beneficial ownership verification, mutual evaluation preparation and supervisory framework design.
On-chain analytics and attribution
Counterparty risk scoring, sanctions and mixer exposure, source of funds tracing, and account attribution binding wallets to verified identities so a transaction can be explained to a supervisor.
Reserves and redemption
Reserve composition, custody segregation, redemption operations and proof of reserve attestation, designed against the disclosure standards supervisors are converging on.
AI governance and conformity
System classification, transparency obligations, technical documentation and conformity assessment readiness, including where models sit within regulated products.
Retained regulatory monitoring
The register maintained privately for your perimeter, with change notices, obligation mapping and a quarterly review against your control environment.
Carbon market integrity
Credit eligibility review, corresponding adjustment and authorisation checks, and procurement due diligence for buyers exposed to CORSIA and Article 6 requirements.
Physical AI
Governance, liability allocation and conformity pathways for embodied and physical AI, where a model's decisions move machinery rather than a screen.
Agentic payments
Authorisation, spend controls and settlement design for machine-initiated payments, as autonomous agents move from advisory to transacting on a principal's behalf.
PropTech
Structuring for tokenised real estate, digital land registries and mortgage infrastructure, read against the property law and land title regime each jurisdiction actually enforces.
Zero-knowledge proofs for governments
Selective disclosure identity, tax and eligibility verification, and voting infrastructure built on zero-knowledge proofs, specified in terms a public sector procurement process can evaluate.
Embedded finance for the development sector
Payment rails and disbursement systems embedded directly into aid, subsidy and development programmes, built for donor reporting and beneficiary reconciliation from the outset.
API integrations for neobanks
Core banking connectivity, ledger and KYC integration, and third-party API architecture for neobank build-out and the incumbents integrating around them.
Notes against the register
Short analytical notes on what a development actually requires. Published by SAFAID. We do not carry outside bylines.
The CLARITY vote failed, and the rulebook is now written by agencies
Cloture failed 49 to 50 in September. Market structure now moves through SEC and CFTC rulemaking, which changes the sequence a US facing firm should plan against.
VA-02Digital assets
Enacted, not in force: what the Stablecoin Act asks issuers to do before commencement
The obligations are legible now, even though the regulations are not written. Reserve composition and redemption operations are the two that take longest to build.
VA-01Financial crime
Beneficiary verification is the difficult part of the travel rule
Checking a name against the account record sounds administrative. In practice it touches payment messaging, KYB records, screening and exception handling across systems that were never joined up.
FC-01Artificial intelligence
The Omnibus deferred the deadline, not the work
December 2027 replaces August 2026 for Annex III systems. Transparency duties did not move, and classification still has to be completed first.
AI-01Digital assets
After the MiCA transition: three routes back into the single market
Fresh authorisation, passporting from a licensed entity, or acquisition. Each carries a different timeline and a different relationship with the home regulator.
VA-03
Bring us the obligation you are unsure about
We accept a limited number of engagements each quarter across monitoring, licensing, financial crime and assurance. Enquiries from public institutions, regulators and licensed entities are read directly by the partners.
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