Regulatory Alerts2026-01-29
Regulation No. 2024-03 on Crypto-Assets
The Central Bank of the Republic of San Marino issued Regulation No. 2024-03 to establish a comprehensive regulatory framework governing crypto-asset firms, electronic money tokens, and asset-referenced tokens. The regulation mandates strict authorization procedures, minimum capital and organizational requirements, prudential supervision, and robust internal controls for all domestic and foreign entities operating in the sector. It further outlines detailed rules on ownership structures, financial reporting, administrative penalties, and the specific reserve and redemption obligations applicable to token issuers.
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