Monaco Aligns Crypto Rules with EU MiCA Framework
Monaco has submitted a draft bill to reform its crypto rules and align them with the European Union's Markets in Crypto-Assets Regulation (MiCA) framework.
The bill, known as Bill No. 1131, was submitted on August 6 and would replace the regime enacted in 2022, which divided crypto and digital asset services into two regulatory tracks based on activity.
Under the proposed rules, providers must obtain prior authorization from the Commission de Contrôle des Activités Financières (CCAF), and licenses will only be granted after joint reviews by the Autorité Monégasque de Sécurité Financière and the Agence Monégasque de Sécurité Numérique.
The measure also expands the CCAF's supervisory and enforcement powers, aiming to strengthen regulatory compliance and prevent money laundering and other illicit financial activity.