Fintech & payments regulation in Monaco (2026)

Legal framework

Monaco-EU Monetary Agreement (2011, updated) transposing EU payment directives via French law; French-Monaco Banking Treaty (1945/2010) delegating prudential licensing to France's ACPR; Law No. 1.528 of 7 July 2022 for digital-asset service providers; CCAF (Commission de Contrôle des Activités Financières) as domestic financial supervisor

Key points: digital payments & fintech in Monaco

1. 01ACPR licensing via bilateral treaty

   Under the French-Monaco Banking Convention (20 October 2010, updating the 1945 treaty), credit institutions, payment institutions, and e-money institutions operating in Monaco must obtain authorisation from France's Autorité de Contrôle Prudentiel et de Résolution (ACPR); there is no separate Monegasque payment-institution licence.

   lexology.com lexology.com

2. 02PSD2 / EU payments directives via Monetary Agreement

   The 2011 Monaco-EU Monetary Agreement (and its subsequent amendments) lists EU directives including PSD2 in Annex A; Monaco must apply them as transposed into French law, making PSD2 requirements, strong customer authentication, third-party provider access, consumer protection, operative in the Principality, though only within the scope set by the Agreement.

   cms.law eba.europa.eu

3. 03CCAF as domestic financial supervisor

   The CCAF supervises investment services, discretionary asset management, and financial-product distribution in Monaco, and grants or revokes domestic financial-activity licences; it works alongside the ACPR rather than replacing it for banking or payment-institution purposes.

   ccaf.mc cms.law

4. 04Law 1.528 (2022), digital-asset / CASP licensing

   Law No. 1.528 of 7 July 2022 created Monaco's crypto-asset services regime, requiring mandatory prior authorisation from either the State Minister or the CCAF depending on the activity; it covers financial tokens, virtual financial assets, utility tokens, and NFTs, with AML/CFT, fit-and-proper, and local-registration conditions.

   99avocats.com gbmlf.miam.dev

5. 05AMSF as independent AML/FIU authority

   In July 2023 the Autorité Monégasque de Sécurité Financière (AMSF) replaced SICCFIN as Monaco's Financial Intelligence Unit, becoming an independent authority responsible for AML/CFT supervision across payment services, crypto-asset providers, and the broader financial sector; CCAF-AMSF cooperation was formalised in a February 2026 agreement.

   siccfin.mc complyadvantage.com

6. 06No standalone BNPL rules or native instant-payment rails

   Monaco has no domestic BNPL-specific regulation and no native instant-payment infrastructure; SEPA-scheme instant credit transfers reach Monegasque institutions via their French licensing, but Lexology sources confirm there is no distinct Monegasque fintech licensing statute covering these segments.

   lexology.com monacoforfinance.mc

Sources

1. 1.lexology.com/library/detail.aspx?g=a01db22a-d3f8-462b-9db5-00198e313b5c
2. 2.lexology.com/library/detail.aspx?g=1d173c67-6503-46b7-a9d6-7a77bc5de34c
3. 3.cms.law/en/mco/publication/amendment-to-the-monaco-eu-monetary-agreement
4. 4.ccaf.mc/en/
5. 5.99avocats.com/en/publications/law-no-1-528-of-7-july-2022-amending-various-digital-
6. 6.cms.law/en/mco/publication/towards-a-monopoly-for-ccaf-approved-companies-and
7. 7.siccfin.mc/en/About-SICCFIN/SICCFIN-at-the-service-of-the-Monaco-Government
8. 8.complyadvantage.com/insights/what-is-autorite-monegasque-de-securite-financiere/
9. 9.monacoforfinance.mc/en/regulatory-environment/
10. 10.lexology.com/library/detail.aspx?g=693e79aa-1a1b-411c-b622-1d06c79d1b14
11. 11.eba.europa.eu/regulation-and-policy/single-rulebook/interactive-single-rulebook/145
12. 12.gbmlf.miam.dev/en/law-1528-of-7-july-2022-amending-various-digital-provisions-and-re