Is Crypto Legal in Monaco?

Cryptocurrency is legal in Monaco under Law 1.528 enacted on July 7, 2022, which established a comprehensive regulatory framework for crypto asset services (1). The law specifies which services and crypto assets undertaken in Monaco are considered regulated activities subject to specific regulatory requirements, including the exchange of virtual assets against other virtual assets and the operation of negotiation platforms for virtual assets (1). The Financial Activities Control Commission (CCAF) and the Ministry of State oversee the regulation and licensing of crypto asset service providers (2).

Law 1.528 requires businesses to apply for a prior license to conduct regulated crypto activities in Monaco (1). The Ministry of State and a dedicated Commission ensure that applicant companies, their management, and shareholders satisfy numerous requirements including Monaco registration, appropriate skill and honorability of management and shareholders, compliance with anti-money laundering obligations, and adequate computing equipment security and back-up (1). The law defines crypto assets as financial tokens assimilated to financial instruments or digital assets including virtual financial assets, usage tokens, and non-fungible tokens (1).

"The new Law sets a requirement to apply for a prior licence to conduct such regulated activities in Monaco. The Ministry of State and a dedicated Commission will ensure that a number of requirements are satisfied."

The CCAF has been an associate member of the International Organization of Securities Commissions since January 2018, working toward full ordinary membership to strengthen Monaco's position as an international financial hub (2). Monaco's regulatory approach aligns with European Union directives, particularly the Markets in Crypto-Assets framework, while maintaining its own distinctive licensing regime (1). The principality positions itself as a hub for financial innovation while prioritizing investor protection and compliance with international standards (2).

Source:
https://delforgelaw.com/new-monaco-regulatory-regime-for-crypto-assets-service-providers/
https://ccaf.mc/en/

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