Monaco Overhauls Crypto Rules with New Licensing Framework

Monaco is revamping its crypto regulatory framework to align with European Union standards and tackle money laundering concerns. The government has submitted Bill No. 1131, which introduces a new licensing system for crypto-asset service providers.

The proposed framework would require companies to obtain prior authorization from the Commission de Contrôle des Activités Financières (CCAF) before offering regulated services in Monaco.

Regulated crypto services would be clearly defined, and companies would need to meet governance, prudential safeguards, and professional conduct requirements.

The CCAF would receive additional supervisory powers under the bill, which would also expand its enforcement capabilities.