This jurisdiction has evolving or restrictive regulations that require careful compliance. Additional licensing, reporting, or operational constraints may apply.
Monaco Cryptocurrency Regulatory Overview
Monaco has established a formal regulatory framework through Law No. 1.528 of 7 July 2022, which governs services on digital and crypto-assets. The legislation introduces mandatory prior approval and licensing for Crypto Asset Service Providers (CASPs), covering activities such as virtual asset exchange and negotiation platform operation. The Commission de Contrôle des Activités Financières (CCAF) ensures compliance with AML obligations.
Monaco was placed on the FATF grey list in October 2025, indicating strategic deficiencies in its AML/CFT framework. The Principality plans to introduce a new crypto framework by end of 2026 to address these gaps. From a tax perspective, Monaco is highly favorable with no personal income tax on residents, extending to capital gains and income from cryptocurrency. However, banking access remains limited, with banks requiring rigorous due diligence and significantly higher minimum deposits (€2-5 million) for crypto-related wealth.
Monaco Blockchain Compliance Requirements
Monaco has implemented regulations for cryptocurrency service providers. Businesses must comply with licensing and AML/CFT requirements.
Crypto Licensing Requirements in Monaco
A prior authorization from the State Minister is required for services like issuance, deposit, or transfer of crypto assets. A prior approval from the Commission de Contrôle des Activités Financières (CCAF) is required for investment services on crypto assets (e.g., advice, order execution). All authorized crypto asset service providers are subject to AML/KYC obligations.
Cryptocurrency Tax Treatment in Monaco
Monaco does not impose personal income tax or capital gains tax on individuals, which extends to cryptocurrency gains. Corporate tax may apply if crypto activities are classified as a business.
Crypto Banking Access in Monaco
Available for licensed entities.
Official Sources & Regulatory References
AML/CFT requirements may be stringent or evolving. Enhanced due diligence may be required.
Enforcement actions may be unpredictable or strict. Monitor regulatory developments closely.
Disclaimer: This information is provided for general guidance only and should not be considered legal advice. Regulations change frequently. Always consult with qualified legal professionals in the relevant jurisdiction before making business decisions.