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Liechtenstein vs Monaco

Crypto regulation comparison

← Back to map | Liechtenstein | Monaco
Liechtenstein

Liechtenstein

Monaco

Monaco

Legal
Legal

Liechtenstein's Blockchain Act (TVTG) effective since 2020 is among the world's most comprehensive crypto frameworks. The FMA supervises registered TT service providers. Adapted for EU MiCAR in 2025.

Monaco has no income or capital gains tax. The CCAF oversees financial activities. Monaco has shown interest in blockchain technology and digital assets.

Tax Type Income
Tax Type No tax
Tax Rate 1-8%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Financial Market Authority (FMA)
Regulator Commission de Contrôle des Activités Financières (CCAF)
Stablecoin Rules Regulated under TVTG and MiCAR
Stablecoin Rules No specific stablecoin regulation
Key Points
  • Blockchain Act (TVTG) adopted unanimously in 2019, effective Jan 2020
  • Token Container Model enables tokenization of any asset or right
  • FMA registers and supervises all TT service providers
  • EEA MiCAR Implementation Act entered into force Feb 2025
  • First country with comprehensive blockchain-specific legislation
Key Points
  • No income or capital gains tax
  • CCAF provides financial regulatory oversight
  • Government has shown interest in blockchain technology
  • Working on digital asset regulatory framework
  • Small but active fintech community
Sources
Sources