Is crypto legal in Montenegro? Rules & regulation (2026)

Legal framework

Law on the Prevention of Money Laundering and Terrorist Financing (amended 28 February 2025); CMA Rulebook on CASP Registration (25 December 2025); overseen by the Capital Market Authority (Komisija za tržište kapitala)

Status by sub-area

• Stablecoins

  None

  No stablecoin-specific regulation exists in Montenegro. Stablecoin service providers fall under the general CASP registration and AML/KYC obligations introduced in February 2025, but there are no rules on reserve backing, redemption rights, attestation, capital requirements, or issuer restrictions. The forthcoming MiCA-aligned law is expected to address this.

  Still pending: MiCA-aligned law pending: stablecoin reserve backing, redemption rights, capital requirements

• Exchanges / VASP

  Partial

  Crypto exchanges (and all 10 defined CASP activities) must register with the CMA's online CASP registry under the February 2025 AML amendments and December 2025 CMA Rulebook. KYC verification is mandatory for transactions exceeding €1,000. No capital adequacy, conduct-of-business, or market-integrity rules have been specified; full licensing with prudential requirements is expected under the forthcoming MiCA-aligned law.

  Still pending: MiCA-aligned law pending: capital adequacy, conduct-of-business, market-integrity rules

• Token Offerings

  None

  Montenegro has no specific framework for token sales, ICOs, or STOs. There is no securities-law classification of tokens, no prospectus or disclosure regime for token offerings, and no investor-exemption structure. Token offerings are not expressly prohibited but operate without a defined legal basis; the MiCA-aligned draft law is expected to introduce an offering/white-paper regime.

  Still pending: MiCA-aligned law pending: token offering framework, white-paper requirements, securities classification

• Custody

  Partial

  Custody and administration of crypto-assets on behalf of customers is one of the 10 defined CASP services subject to mandatory CMA registration and AML/KYC obligations. However, no specific rules on asset segregation, proof of reserves, insurance, or qualified-custodian standards have been enacted; the existing framework provides only a registration gateway, not a prudential custody regime.

  Still pending: Custody prudential rules pending: asset segregation, proof of reserves, insurance, qualified-custodian standards

• DeFi

  None

  Montenegro has no specific regulatory stance on decentralized finance. DeFi protocols, front-ends, automated market makers, and DAOs are not addressed in the February 2025 AML amendments or any other Montenegrin statute. The general CASP registration obligation nominally could apply to identifiable DeFi front-end operators, but no enforcement posture or guidance has been issued.

  Still pending: DeFi regulatory framework or enforcement guidance on CASP applicability to DeFi operators not yet issued

• Tax

  Partial

  Capital gains from crypto trading are subject to Montenegro's 9% flat personal and corporate income tax rate; crypto transactions are VAT-exempt. However, the tax authority stated in December 2025 that enforcement against crypto traders is constrained by the absence of a standalone digital-assets law, and treatment of staking rewards, airdrops, and mining income is not specifically codified.

  Still pending: Standalone digital-assets tax law pending to codify staking rewards, airdrops, mining income treatment

How to get a crypto license in Montenegro

To provide crypto-asset services in Montenegro you need registration as a Virtual Asset Service Provider (VASP), supervised by the Capital Market Authority (Komisija za tržište kapitala), under the Law on Digital Assets (Official Gazette 11/23) and the AML/CTF Law.

Authority

the Capital Market Authority (Komisija za tržište kapitala)

License required

registration as a Virtual Asset Service Provider (VASP)

Framework / law

the Law on Digital Assets (Official Gazette 11/23) and the AML/CTF Law

Minimum capital

no fixed minimum; adequate resources and a local AML/CTF compliance officer required

Timeline

around 2 months to incorporate and register

Cost

a €5,000 state fee, plus legal and compliance costs

Passporting

No: a Montenegrin VASP registration is national; Montenegro is an EU candidate aligning its regime toward MiCA.

Montenegro is marketed as a crypto-friendly hub; it is not yet in the EU, so its VASP regime is separate from MiCA.

Key points: crypto & digital assets in Montenegro

1. 01AML-embedded first framework

   Parliament adopted amendments to the Law on the Prevention of Money Laundering and Terrorist Financing on 28 February 2025, defining 10 crypto-asset services and introducing the first formal regulatory obligations for CASPs, aligned with FATF Recommendation 15, MONEYVAL, and OECD standards rather than EU MiCA.

   karanovicpartners.com lexology.com

2. 02Registration, not licensing

   Providing crypto-asset services requires registration with the CMA's online CASP registry, not a permit or licence. There are no minimum capital requirements beyond standard company law (€1 for an LLC; €25,000 for a JSC), and the procedure is designed primarily as a transparency and AML/KYC gateway.

   legalbison.com gofaizen-sherle.com

3. 03CMA Rulebook issued December 2025

   On 25 December 2025, the Capital Market Authority issued a 15-page Rulebook on conducting the CASP registry and assessing the reputation of directors, governing-body members, and beneficial owners, completing the operational framework for CASP registration under the AML amendments.

   cryptoforinnovation.org jpm.law

4. 04MiCA-aligned standalone law in preparation

   Prime Minister Spajić announced in September 2025 that a dedicated law aligned with EU MiCA would be adopted, and the Finance Ministry launched a public consultation on draft legislation. The government, CMA, and Central Bank of Montenegro (CBCG) are co-drafting the text, with finalization targeted for 2026.

   balkaninsight.com cryptoforinnovation.org

5. 05Tax: 9% flat rate, VAT-exempt

   Capital gains from crypto trading are subject to Montenegro's standard 9% flat personal and corporate income tax. Crypto transactions are exempt from VAT. However, the tax authority acknowledged in December 2025 that enforcement is limited pending a standalone digital-assets law, and OTC/cash-settled crypto trading remains a largely unmonitored grey zone.

   balkaninsight.com rue.ee

6. 06Enforcement and grey-zone concerns

   Balkan Insight reporting (December 2025, March 2026) identified significant unregulated OTC crypto trading via Telegram groups and in-person cash transactions, with millions in flows. Officials were found exploiting asset-declaration gaps; the Global Initiative risk bulletin (May 2025) noted that seizing crime-related virtual assets remains a challenge across the Western Balkans including Montenegro.

   balkaninsight.com riskbulletins.globalinitiative.net

Crypto license in Montenegro: FAQ

Sources

1. 1.karanovicpartners.com/news/montenegros-first-ever-crypto-regulation/
2. 2.lexology.com/library/detail.aspx?g=e512e129-e162-4a34-adab-75c706e2d0dc
3. 3.cryptoforinnovation.org/montenegro-takes-tentative-steps-towards-crypto-regulation/
4. 4.jpm.law/montenegro-updates-aml-laws-for-crypto-regulation/
5. 5.legalbison.com/crypto-license/montenegro/
6. 6.gofaizen-sherle.com/crypto-license/montenegro
7. 7.balkaninsight.com/2026/03/02/montenegros-crypto-ambitions-need-tough-rules-to-succeed/b
8. 8.balkaninsight.com/2025/12/09/no-questions-asked-montenegros-crypto-grey-zone-worth-mill
9. 9.rue.ee/blog/montenegro-crypto-tax/
10. 10.riskbulletins.globalinitiative.net/see-obs-021/03-seizing-crime-related-virtual-assets-remains-challenge