Monaco Moves to Tighten Crypto Rules With New MiCA-Style Licensing Bill

TLDR

• Monaco proposes stricter crypto licensing under new MiCA-style legislation.

• Bill No. 1131 would place crypto providers under stronger CCAF supervision.

• Monaco plans tougher governance and compliance rules for crypto companies.

• New crypto rules would replace Monaco’s existing two-track approval system.

• Monaco’s crypto reform seeks closer alignment with MiCA and FATF standards.

Monaco has moved to tighten crypto oversight through a new licensing bill submitted to the National Council on August 6. Bill No. 1131 would replace parts of the 2022 framework and introduce stricter authorization, governance, prudential, and compliance requirements. The proposal also brings Monaco closer to the European Union’s MiCA model while incorporating key FATF regulatory standards.

Monaco Sets CCAF-Led Crypto Licensing Framework

Under the bill, crypto-asset service providers would need prior authorization from the Commission de Contrôle des Activités Financières. The CCAF would assess proposed services, governance arrangements, prudential safeguards, and professional conduct before granting regulatory approval. This approach would replace Monaco’s current split structure with a more centralized licensing process covering regulated crypto businesses and services.

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