Is Crypto Legal in Liechtenstein?

Cryptocurrency is legal in Liechtenstein under a comprehensive regulatory framework established by the Token and TT Service Provider Act (TVTG), which entered into force on January 1, 2020 (1). The TVTG defines legal requirements for the provision of services on trustworthy technology systems, with blockchain being the best-known example (1). The Financial Market Authority (FMA) is entrusted with the registration and ad hoc supervision of certain service providers operating on these systems (1).

The TVTG implements recommendations of the Financial Action Task Force to ensure compliance with due diligence obligations for combating money laundering and terrorist financing (1). TT service providers are not classified as financial intermediaries unless they engage in other activities requiring licensing, and therefore are not subject to European rules on licensing, registration, or supervision except for due diligence requirements (1). The FMA only takes supervisory action based on the ad hoc reporting system provided for in the TVTG or upon receiving third-party notification (1).

"The TVTG is not part of Liechtenstein financial market law. TT service providers are therefore not classified as financial intermediaries unless they engage in other activities requiring licensing."

In November 2024, the Government adopted a statement on implementing Regulation (EU) 2023/1114 on markets in crypto-assets, with amendments expected to enter into force on February 1, 2025 (2). The TVTG has been amended several times to ensure that MiCAR and TVTG can continue to exist alongside each other while their respective areas of application remain mutually exclusive (1). The amendments to the TVTG will abolish approval obligations, leaving only reporting obligations to the FMA (2).

Source:
https://www.fma-li.li/en/supervision-regulation/fintech/tvtg
https://www.regierung.li/medienportal-medium/16444/232675/0/medienmitteilung

Last updated: 19-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.