From authorization to defensibility: enterprise stablecoin compliance readiness after the GENIUS Act

Ray Aria

Journal of Financial Regulation and Compliance, 2026, 1-18

Abstract: PurposeThis paper aims to examine how organizational actors translate statutory authorization of payment stablecoins into judgments of compliance readiness for enterprise use.Design/methodology/approachThe study uses 23 short stimulus-based interviews conducted after the U.S. GENIUS Act: 22 organizational informants and one finance-domain informant. Abductive thematic analysis combined evidence weighting, negative cases and stimulus and timing sensitivity checks.FindingsAuthorization increased discussability but not defensibility. Readiness required workflow value, an assurance bundle, operational absorbability, gatekeeper movement and a credible regulatory signal. Some participants instead regarded stablecoins as redundant because existing rails already met their needs; where value existed, unresolved custody, controls, systems and counterparty acceptance delayed use.Research limitations/implicationsThe data capture first-pass, role-informed judgments in a short, network-recruited design; they do not observe deliberation or implementation. The construct is a sensitizing framework, not a tested causal model.Practical implicationsThe framework provides a diagnostic: identify the payment pain, document assurance, test operational fit and locate the blocking gatekeeper.Social implicationsPublic-payer, healthcare and nonprofit cases show that modernization can affect access, confidentiality, stewardship and familiar payment options.Originality/valueThe paper develops regulatory-compliance readiness lag: the perceived interval between legal authorization and organizationally defensible payment use.

Keywords: Payment stablecoins; Financial regulation; Compliance readiness; GENIUS Act; Institutional trust; Enterprise payments; Regulatory legitimacy; Payment infrastructure (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrcpp:jfrc-07-2026-0377

DOI: 10.1108/JFRC-07-2026-0377

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