---
type: country
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "europe", "legal"]
aliases: ["MC", "MCO"]
created: 2026-09-18
updated: 2025-11-01
compile_into: ["[[country--monaco]]"]
sources:
  - name: "CCAF Monaco"
    url: "https://www.ccaf.mc"
    type: "official"
  - name: "Legimonaco: Law No. 1.528 of 7 July 2022"
    url: "https://legimonaco.mc/tnc/loi/2022/07-07-1.528"
    type: "official"
  - name: "Monaco Government: Monegasque taxation"
    url: "https://monservicepublic.gouv.mc/thematiques/fiscalite/informations-sur-la-fiscalite/informations-generales/la-fiscalite-monegasque"
    type: "official"
  - name: "monentreprise.gouv.mc"
    url: "https://monentreprise.gouv.mc/thematiques/obligations-legales-et-fiscalite/fiscalite/autres-impots-et-taxes/impot-sur-les-benefices"
    type: "reference"
---

# 🇲🇨 [[country--monaco|Monaco]] (MC): Crypto Regulation

> Monaco regulates financial activities including crypto under the Commission de Contrôle des Activités Financières (CCAF). The legal framework includes Law No. 1.528 on Digital Assets (2022), with active supervision and licensing requirements for financial entities.

## Overview

| Field | Value |
|-------|-------|
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Enforcement Level | Moderate |
| Region | [[domain--europe|europe]] |
| Currency | [[entity--eur|EUR]] |
| Adoption Rank | #41 |

## Tax

| Type | Rate |
|------|------|
| Capital Gains (Personal) | 0% (no personal income or capital gains tax for Monaco residents, except French nationals under the 1963 Franco-Monegasque tax convention) |
| Capital Gains (Corporate) | 25% profits tax (ISB), applicable only to companies earning more than 25% of turnover outside Monaco |
| VAT on Crypto | No |
| Mining Tax | / Not stated / |
| Staking Tax | / Not stated / |
| Airdrop Tax | / Not stated / |

Monaco levies no personal income tax, so residents (other than French nationals) pay no tax on crypto gains. Companies pay the 25% profits tax (ISB) only if more than 25% of their turnover is generated outside Monaco. Monaco applies French-aligned VAT rules, under which exchanging crypto for fiat is VAT exempt.

## Licensing

| Field | Value |
|-------|-------|
| Required | Yes |
| Regulator | CCAF + Ministry of State (dual authority under Law 1.528) |
| Framework | Law No. 1.528 of 7 July 2022 on digital matters and the regulation of digital asset and crypto-asset service providers |
| Ease | medium |
| Cost | $50,000 - $200,000 |
| Timeline | 4-12 months |

Entities must obtain prior authorization from the CCAF for any significant changes in capital, management, or corporate purpose. The CCAF actively monitors and sanctions unauthorized financial activities.

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | No |
| FATF Status | compliant |

## DeFi

**Status:** unregulated

No explicit regulation or mention of DeFi; likely unregulated but subject to general financial supervision.

## Stablecoins

**Status:** unknown

Monaco has no stablecoin-specific regulation.

## NFTs

**Status:** no_rules

No specific NFT regulation

## Mining

| Field | Value |
|-------|-------|
| Legal | Yes |
| Electricity Cost | $0.16/kWh |
| Renewable Energy | 30% |
| Climate | temperate |
| Infrastructure | good |

Mining is legal but limited by high electricity costs and moderate renewable energy share. Infrastructure is good given Monaco's developed status.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | very_stable |
| Sanctions | No |
| Corruption Index | 75/100 |
| Ease of Business | easy |
| Internet Freedom | free |
| Banking Access | open |
| Sanctions Programs Active | No |

## Enforcement

CCAF has been implementing the 2022 Digital Assets Law and processing license applications.

## CBDC Status: unknown

## FAQ

### Is cryptocurrency legal in Monaco?

Monaco regulates financial activities including crypto under the Commission de Contrôle des Activités Financières (CCAF). The legal framework includes Law No. 1.528 on Digital Assets (2022), with active supervision and licensing requirements for financial entities.

### What is the FATF status of Monaco?

Monaco is classified by FATF as: compliant.

### Are VASPs licensed in Monaco?

Yes, licensing is required for VASPs.

### What is the AML/KYC regime in Monaco?

KYC is mandatory for crypto businesses.

---

*Data source: [Soken Crypto Legal Map](https://soken.dev/crypto-map/). Last reviewed: 2026-09-18.*

**Sources:**
- [CCAF Monaco](https://www.ccaf.mc)
- [Legimonaco: Law No. 1.528 of 7 July 2022](https://legimonaco.mc/tnc/loi/2022/07-07-1.528)
- [Monaco Government: Monegasque taxation](https://monservicepublic.gouv.mc/thematiques/fiscalite/informations-sur-la-fiscalite/informations-generales/la-fiscalite-monegasque)
- [monentreprise.gouv.mc](https://monentreprise.gouv.mc/thematiques/obligations-legales-et-fiscalite/fiscalite/autres-impots-et-taxes/impot-sur-les-benefices)