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

# Jurisdictions

{% hint style="info" %}
This page explains the protocol's jurisdictional positions. It is not legal advice. Eligibility is enforced in code through the [eligibility registry](/architecture/eligibility.md); this page is the reasoning behind the rules.
{% endhint %}

## United States

Syndromics is available to US persons. Eligibility follows the same verification path as everywhere else: identity, sanctions and suitability checks by the attestation issuer, with lending open to professional clients and borrowing to verified businesses and professional or high-net-worth individuals. The protocol has no managerial discretion in its loan lifecycle: origination, repayment, refinance and liquidation are rule-based and triggerable by anyone eligible.

## EU and EEA: primary market

Stock Tokens are MiFID II financial instruments, not MiCA assets. A peer-to-peer loan secured by them is a bilateral credit agreement, and the platform's role is that of a loan-intermediation service.

The protocol operates on the following basis:

* **Lenders are professional clients.** Restricting the lender side to professional clients keeps the lender-side instrument outside retail-offer rules. Retail lending is added jurisdiction by jurisdiction under the applicable crowdfunding or intermediation regime.
* **Borrowers are businesses and professional or high-net-worth individuals.** National consumer-credit law applies where borrowers are consumers, so retail borrowers are admitted only in jurisdictions where the applicable requirements are met.
* **USDG is MiCA-regulated**, which supports its use as the settlement asset across the EEA.

## Rest of world

The same jurisdiction list as the Stock Tokens themselves (120+ countries), minus any jurisdiction where lending intermediation is licensed and unlicensed activity is prohibited. The list is maintained by the attestation issuer and published on the eligibility page.

## Money transmission and VASP status

The protocol never holds user funds outside the escrow contracts and never converts fiat. The operating company is assessed for VASP or CASP status in every jurisdiction where the front-end is offered, and the front-end is geo-fenced for restricted jurisdictions.

## AML

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

## Summary

| Region                      | Borrowers                                             | Lenders              | Notes                                            |
| --------------------------- | ----------------------------------------------------- | -------------------- | ------------------------------------------------ |
| United States               | Verified businesses, professional and HNW individuals | Professional clients | Verification-based eligibility                   |
| EU / EEA                    | Verified businesses, professional and HNW individuals | Professional clients | Primary market                                   |
| Other Stock Token countries | Same as EU, subject to local rules                    | Professional clients | Excluded where intermediation requires a licence |


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