Monaco Tightens Grip on Crypto with New Regulation Framework
The government of Monaco has introduced bill no. 1131 to the National Council as part of its efforts to strengthen regulations on crypto-assets and align itself with European standards, particularly MiCA.
The current framework adopted in 2022 separates activities by nature and imposes different levels of authorization. However, under the new proposal, service providers will have to obtain prior authorization from the CCAF and meet stricter requirements concerning governance, prudential protections, and professional ethics.
This reform aims to bring Monaco closer to MiCA and international FATF standards in response to expectations from the European Commission and to strengthen controls against money laundering and illicit activities. The bill must continue its progress before the National Council for adoption, which would pave the way for regulations detailing obligations applicable to providers.