Jurisdiction reference
Liechtenstein
Regulator: FMA. License/registration context: Licensing. 32 VASP/entity records are tracked by Plexo Institute in Liechtenstein. Official registry source: FMA Token Register. Data last updated: 2026-09-24.
Liechtenstein operates as a leader in digital asset regulation with a sophisticated dual-regime framework combining the technology-neutral TVTG (2020) with MiCA (implemented February 2025). The TVTG pioneered comprehensive token economy regulation globally through its Token Container Model, providing civil law certainty for digital asset ownership, transfer, and enforcement. This framework was augmented by MiCA implementation, which harmonized stablecoin regulation with EU standards while preserving TVTG for non-MiCA-regulated tokens such as certain NFTs.
Regulatory Status
- Jurisdiction code
- LI
- Regime
- Licensing
- Regulator
- FMA
- Governing law
- TVTG (Blockchain Act) 2020
- Travel Rule
- Enforced
- Tracked entities
- 32
- Recognized stablecoin backing
- fiat-backed, crypto-backed, commodity-backed
- Yield-bearing stablecoins
- Restricted
- Currency
- CHF
Regulatory approach
The Financial Market Authority Liechtenstein (FMA) is an independent, integrated financial market supervisory authority established January 1, 2005, operating under public law. As the primary regulatory agency for the Principality of Liechtenstein, the FMA maintains responsibility for safeguarding financial market stability, protecting clients, preventing fraud, and implementing international standards.
Licensed entities in Liechtenstein
32 regulated-entity records tracked in Liechtenstein by Plexo Institute.
| Entity | Status | License type |
|---|---|---|
| abpay | Registered | TVTG: TT Exchange Service Provider |
| AMNIS Europe | Licensed | Payment Institution (PI) |
| Bank Frick | Registered | TVTG: Token Issuer (Art. 12(1)), TT Identity Service Provider, Token Issuer (Art. 12(2)), Token Generator, TT Token Depositary, TT Depositary |
| Bitclear Aktiengesellschaft | Registered | TVTG: TT Exchange Service Provider, TT Depositary |
| Bitcoin Suisse | Registered | TVTG: TT Exchange Service Provider, TT Token Depositary, TT Depositary |
| Btse | Registered | TVTG: TT Exchange Service Provider, TT Depositary |
| Confero Europe | Registered | TVTG: TT Token Depositary, Token Generator, TT Depositary, Physical Validator, Token Issuer (Art. 12(1)) |
| Constellation Technologies | Registered | TVTG: TT Exchange Service Provider |
| Copper Markets | Registered | TVTG: TT Transfer Service Provider, TT Depositary, TT Exchange Service Provider |
| Cornèr Europe | Licensed | E-Money Institution (EMI) |
| CorPa Blockchain | Registered | TVTG: Token Issuer (Art. 12(1)), Tokenisation Service Provider, TT Exchange Service Provider, Token Generator, TT Depositary |
| CorPa Treuhand Aktiengesellschaft | Registered | TVTG: TT Verifying Authority, TT Depositary, TT Identity Service Provider |
| Damoon Technology | Registered | TVTG: TT Exchange Service Provider |
| DOCOMO Digital Payment Services | Licensed | E-Money Institution (EMI) |
| Equanimity | Registered | TVTG: Token Generator |
| Floin | Registered | TVTG: Token Issuer (Art. 12(1)), Token Generator, Token Issuer (Art. 12(2)), TT Token Depositary, TT Key Depositary, TT Exchange Service Provider, TT Depositary |
| Honesto | Registered | TVTG: TT Exchange Service Provider, Token Issuer (Art. 12(2)) |
| Kaiser Partner Privatbank | Registered | TVTG: Token Lending Undertaking, TT Token Depositary, TT Depositary |
| Keyrock | Registered | TVTG: Token Lending Undertaking, TT Exchange Service Provider |
| LCX | Registered | TVTG: TT Price Service Provider, TT Depositary, Physical Validator, Token Generator, TT Identity Service Provider, TT Key Depositary, TT Exchange Service Provider, Token Issuer (Art. 12(2)), TT Token Depositary, Token Issuer (Art. 12(1)) |
| LGT Bank | Registered | TVTG: TT Depositary, TT Token Depositary |
| Lirium | Registered | TVTG: TT Exchange Service Provider, TT Token Depositary, TT Depositary, TT Price Service Provider |
| Mimo Capital | Registered | TVTG: Token Issuer (Art. 12(2)), TT Exchange Service Provider, Token Generator |
| Neon Exchange | Registered | TVTG: TT Exchange Service Provider |
| Pintail | Licensed | E-Money Institution (EMI) |
| Salus Alpha Financial Services | Registered | TVTG: TT Exchange Service Provider, TT Token Depositary, TT Depositary |
| Smart Valor | Registered | TVTG: TT Token Depositary, TT Exchange Service Provider, TT Depositary |
| Swiss Bankers Prepaid Services | Licensed | E-Money Institution (EMI) |
| Sygnum Europe | Registered | TVTG: TT Exchange Service Provider, TT Depositary |
| Tantum | Licensed | E-Money Institution (EMI) |
| TenX Payments Europe | Licensed | E-Money Institution (EMI) |
| VNX Commodities | Registered | TVTG: TT Identity Service Provider, TT Token Depositary, TT Depositary, TT Exchange Service Provider, Token Generator, TT Key Depositary |
Stablecoin laws in Liechtenstein
Primary legal texts Plexo Institute tracks for Liechtenstein.
- Token and Trusted Technology Service Provider Act (TVTG, “Blockchain Act”) (enacted 2020-01-01)
Comprehensive framework for tokens, including stablecoins, covering issuance, VASP licensing, and AML obligations.
Relationship Graph
Jurisdiction FAQ
Who regulates Liechtenstein?
The current Plexo Institute record lists FMA as the regulator for Liechtenstein.
How many VASPs are tracked in Liechtenstein?
32 VASP/entity records are tracked by Plexo Institute in Liechtenstein.
What is the Travel Rule status in Liechtenstein?
The current Plexo Institute record lists the Travel Rule status for Liechtenstein as Enforced.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.