> For the complete documentation index, see [llms.txt](https://docs.ethosis.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ethosis.org/compliance/jurisdictions.md).

# Jurisdictional positions

{% hint style="info" %}
This page sets out the reasoning behind the protocol's positions on jurisdiction. It is not legal advice. The rules themselves are enforced in code by the [access registry](/architecture/eligibility.md).
{% endhint %}

## United States

US persons can use Ethosis. They pass through the same verification route as everyone else: identity, sanctions and suitability checks performed by the attestation issuer. Lending is open to professional clients; borrowing is open to verified businesses and to professional or high-net-worth individuals. Across the loan lifecycle the protocol exercises no managerial discretion, since origination, repayment, refinance and liquidation are all rule-based and can be triggered by anyone eligible.

## EU and EEA (primary market)

Under EU law Stock Tokens are MiFID II financial instruments rather than MiCA assets. A peer-to-peer loan secured on them is a bilateral credit agreement, and the platform acts as a loan-intermediation service.

Three points define the operating basis:

* **Only professional clients lend.** Confining the lender side to professional clients keeps the lender-side instrument outside retail-offer rules. Retail lending is introduced jurisdiction by jurisdiction under whichever crowdfunding or intermediation regime applies.
* **Borrowers are businesses, or professional and high-net-worth individuals.** Where a borrower is a consumer, national consumer-credit law applies, so retail borrowers are admitted only where the relevant requirements are satisfied.
* **USDG is regulated under MiCA**, which supports using it as the settlement asset throughout the EEA.

## Everywhere else

Ethosis follows the Stock Tokens' own jurisdiction list (120+ countries), excluding any jurisdiction in which lending intermediation is a licensed activity and operating without a licence is prohibited. The attestation issuer maintains the list, and it is published on the eligibility page.

## Money transmission and VASP or CASP status

User funds are never held outside the escrow contracts, and fiat is never converted. The operating company is assessed for VASP or CASP status in each jurisdiction where the front-end is offered, and the front-end is geo-fenced for restricted jurisdictions.

## Anti-money laundering

* Sanctions screening when an attestation is issued and at every renewal.
* Continuous re-screening, with immediate revocation.
* The sequencer's own screening (TRM Labs) as a second, independent layer.
* Transaction monitoring on the relayer and the indexer for patterns that merit review.

## At a glance

| Region                      | Who may borrow                                        | Who may lend         | Notes                                         |
| --------------------------- | ----------------------------------------------------- | -------------------- | --------------------------------------------- |
| United States               | Verified businesses, professional and HNW individuals | Professional clients | Eligibility based on verification             |
| EU / EEA                    | Verified businesses, professional and HNW individuals | Professional clients | Primary market                                |
| Other Stock Token countries | As for the EU, subject to local rules                 | Professional clients | Excluded where intermediation needs a licence |


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://docs.ethosis.org/compliance/jurisdictions.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.