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Monaco moves to overhaul crypto rules with MiCA aligned framework
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Aug 13, 2026
Monaco’s government has submitted a bill to replace its 2022 crypto regulatory regime with a new licensing framework that would place crypto-asset service providers under stricter authorization, governance and compliance requirements.
The government’s Bill No. 1131 was formally submitted to Monaco’s National Council on Aug. 6, setting out a new framework designed to bring the Principality’s crypto rules closer to the European Union’s Markets in Crypto-Assets Regulation and standards developed by the Financial Action Task Force.
If adopted, the legislation would replace key parts of the system introduced under Law No. 1.528 in July 2022, while giving Monaco’s financial regulator a larger role in approving and supervising companies offering crypto services.
The proposal comes as Monaco remains subject to increased scrutiny over its anti-money laundering controls. The Financial Action Task Force continues to include the Principality among jurisdictions under increased monitoring, commonly known as the FATF grey list, while the European Union classifies Monaco as a high-risk third country for money laundering and terrorist financing controls.
Monaco crypto rules would move to a CCAF-led licensing system
Under the proposed framework, companies seeking to provide regulated crypto-asset services would need prior authorization from the Commission de Contrôle des Activités Financières, or CCAF.
The bill more precisely sets out the crypto services that can be provided in Monaco and adds requirements covering corporate governance, prudential safeguards and professional conduct. Companies would therefore face regulatory checks not only on the services they intend to offer but also on how their businesses are organized and operated.
Before a license can be issued, applications would also undergo reviews involving two other Monegasque authorities, according to a local report. The Autorité Monégasque de Sécurité Financière would assess relevant financial-security matters, while the Agence Monégasque de Sécurité Numérique would participate in the review of cybersecurity requirements.
Alongside its authorization role, the CCAF would receive additional supervisory and enforcement powers under the bill. Monaco’s government has tied the additional controls to efforts to strengthen compliance and reduce exposure to money laundering and other illicit financial activity.
The model would bring Monaco closer to the authorization-based approach used under MiCA, even though the Principality is not a European Union member state. Under the EU framework, crypto-asset service providers must obtain authorization before providing regulated services and comply with requirements covering governance, client protection, prudential controls and conduct.
The licensing component has become particularly important since MiCA’s transitional arrangements ended this summer. As previously covered by crypto.news, the EU transition period ended on July 1, leaving crypto firms subject to the bloc’s full Crypto-Asset Service Provider licensing requirements.
The bill would replace Monaco’s two-track crypto regime
Monaco’s existing rules date to Law No. 1.528, adopted in July 2022 to regulate companies providing services involving digital assets and crypto assets.
Rather than placing all regulated crypto services under one authorization structure, the law separated providers according to their activities. Companies involved in digital or crypto-asset issuance and certain operational services needed approval from the Minister of State, while businesses providing investment services involving crypto assets fell under the CCAF.
Sources >> Monaco moves to overhaul crypto rules with MiCA aligned framework
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