Country Manual Cryptos Overview Update
Monaco
BRP has updated its Country Manuals Cryptos Overview for
Monaco
out of Crypto-Asset service provider’s country of establishment (DEF, RS & RT)
| SOURCE OF CHANGES | ANSWERS |
|---|---|
| Law/Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s interpretation | No |
Definitions & Concepts, Regulatory Summary and Behaviour Template
The Country Manual Cryptos Overview has been reviewed to ensure that the content of all the documents remain accurate and up to date.
Material changes
The Cryptos Overview Behaviour Template (BT) reflects the principles set out in the Regulatory Summary document (RS) using schematic “dos and don’ts” that now cover both types of investors (Retail and Professional). The position with respect to Professional Investors is generally more permissive than for Retail Investors.
However, please note that the definition of “Professional Investors” in Art. 2 of the Ordinance n° 9.737, is only relevant for locally licensed financial institutions, and not for those acting on a cross-border basis without a local license. Therefore, the definition of “Professional Investors” is based on the Monegasque authorities’ interpretation of the concept of “Institutional Investors”: only the Monegasque Government, the Sovereign Fund, the Prince’s Foundation, insurance companies, and pension funds are considered “Professional Investors”.
Non-material changes
Some comments and content have been slightly rephrased in the CM, without introducing any substantive changes to better reflect the regulatory situation/current interpretation of the regulatory framework more accurately
For more information, please contact us: info@brpsa.com
Geneva, June 3rd 2025