New AML law sets Costa Rica crypto registration deadline

Virtual asset service providers in Costa Rica must prepare to register with financial regulator SUGEF under a new anti-money laundering framework that is due to take effect in September 2026. Once the relevant requirements apply, providers operating without the required registration could face regulatory penalties and restrictions on their relationships with SUGEF-supervised financial institutions.

The changes stem from Ley 10961, signed into law in June 2026. The legislation amends Costa Rica’s 1998 anti-money laundering framework and brings virtual asset service providers under formal supervision. Its scope includes businesses that exchange crypto assets for fiat currency, transfer digital assets on behalf of clients, provide custody services, or participate in the issuance or sale of virtual assets. Exchanges, custodians, payment processors and OTC desks may therefore fall within its scope depending on their activities.

In-scope providers will be subject to anti-money laundering and counter-terrorist financing obligations. These include identifying customers and beneficial owners, maintaining transaction records, applying enhanced due diligence in higher-risk situations and conducting relevant sanctions screening.

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