Country overview

#74
Monaco

Country stats

Rating Points
155
This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.
Crypto Penetration
5.1%
Estimated percentage of crypto users out of the country's total population based on public data.
Legal Entities
0
Number of crypto companies registered in the country based on regulator data if available or other types of public data.
Regulation Points
120
An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.
Amount of crypto users
1Β 590
Total amount of crypto users out of the country's total population based on public data.
Taxation points
30
This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.
Market volume points
0
A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.
Status of crypto
Legally allowed
General status of cryptocurrency regulation in this jurisdiction.
Crypto payments
Legally allowed
The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.
Security Level
Safe place
The overall level of security in a given country based on open data.
Crypto Salaries
Ban
The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.
Business Climate
No info
Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.
Stablecoin Regulation
Basic
This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.
Bad Factors
FATF grey list
This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.
Types of licenses
Crypto-to-crypto
This license type allows VASP to provide legal exchange from one cryptocurrency to another.
Crypto-to-fiat
This type of license regulates the exchange from cryptocurrency to fiat.
Wallet/Custody
This country has a legal licensing procedure for companies that store cryptocurrency - crypto wallet providers and custodians.
Cryptofund
This indicator means that investment funds, trusts, and crypto funds can get regulator approval to provide their activity in the country.
ICO/STO
This indicator describes legal procedures for token sales and security token issuance. This country has a clear regulation framework and licensing procedures for entities that provide this activity.
Good
Medium
Bad
intro

Monaco is a small principality on the South of France. It has legal acts regulating cryptocurrencies accepted on the state level. This jurisdiction is known as a tax haven in Europe.

Security level

  Monaco has a safe place at the security level according to our rating. Jurisdiction has 75.3 points (from 100) for safety level in Numbeo crime rating (1). Homicide level (2) is 0 per 100,000 inhabitants a year.  

Crypto Payments

Currently we have no information about legal status of crypto payments in Monaco. Probably they are legal, as in most jurisdictions across EEA.

Crypto Salaries

No regulation.

Legal

Monaco has set up its firs crypto regulations with the Law β„–1491 On Token Offerings approved (3) in 2020. General crypto bill Law β„–1528 was approved (4) in 2022, this act has defined legal requirements for crypto asset service providers. Being located in the EU, Monaco legally isn't included in the EU or EEA. That's why probably it didn't implemented MiCA in 2024.  

Taxation

  Monegasque nationals and foreign nationals residing in Monaco are not subject (5) to personal income tax or capital gain tax. French nationals residing in Monaco are, however, subject to French income tax (under Article 7-1 of the French-Monegasque bilateral convention of 18 May 1963). There is no tax (6) on investment income, capital gains or dividends in Monaco.    

Links