Regulatory AlertsSan Marino: crypto & digital assets regulation
RegulatedSan Marino VASP licensing under 2024-03 Regulation; BCBSM oversight
- Lead regulator:
- Banca Centrale della Repubblica di San Marino
- Key law:
- Regulation No. 2024-03 on Crypto-Assets (2024)
- Last updated:
- 2026-07-12
The Central Bank of the Republic of San Marino (BCBSM) has established a comprehensive regulatory framework for crypto-asset service providers, electronic money tokens, and asset-referenced tokens. This regime mandates strict authorization procedures for firms operating within the jurisdiction.
The regulation introduces specific requirements regarding minimum capital and organizational standards for licensed entities. It aims to ensure stability and compliance within the digital asset sector under the direct supervision of the national central bank.
The framework covers the authorization of crypto-asset firms and the oversight of specific token types, marking a move towards formalized regulation of the vertical.
Who regulates
Banca Centrale della Repubblica di San Marino
Primary supervisor issuing Regulation No. 2024-03
[1]
Core laws & rules
Regulation No. 2024-03 on Crypto-Assets (2024)
Establishes the regulatory framework for crypto-asset firms, electronic money tokens, and asset-referenced tokens, including authorization and capital requirements.
[1]
Licensing & registration
Crypto-asset firms, EMTs, ARTs
Mandates strict authorization procedures for entities providing crypto-asset services or issuing specific token types.
[1]
Restrictions & warnings
Requires compliance with minimum capital and organizational standards as defined in the regulation.
[1]
Direction of travel
The jurisdiction is actively formalizing its stance through specific central bank regulations, indicating a direction towards structured oversight.
[1]
Sources
- Regulation No. 2024-03 on Crypto-Assets · 2026-01-29
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