San Marino Compliance Report

Regulatory Overview

Regulatory Status

Dedicated crypto/VA legislation, licensing regime, active enforcement

Key Regulator(s)

Financial Intelligence Agency, Central Bank of San Marino

Primary Legislation

A law approved in March introduced the plea bargain and the review of precaution, The law provides for freedom of expression, including for members of the press a, The law provides for the freedoms of peaceful assembly and association, and for, The law provides citizens the ability to choose their government in free and fai, The regulation sets out the procedures for revocation of authorization, requirin, The law prohibits arbitrary arrest and detention and provides for the right of a, The law provides for an apprehended person to be detained in prison, in a treatm, The law prohibits torture and other cruel, inhuman, or degrading treatment or pu

Travel Rule

Adopted — Threshold: €1,000

Tax Reporting

Delegated Decree No. 36 of 10 April 2019 (Decreto Delegato n. 36 del 10 aprile 2019) – "Regulation on Blockchain Technology for Enterprises" (Regolamento sulle Tecnologie a Registro Distribuito per le Imprese):. This decree establishes a comprehensive regulatory framework for blockchain technology and crypto-asset offerings, service providers, and issuance. It defines "crypto-assets," "blockchain projects," and outlines the role of the Central Bank of San Marino (BCSM) as the supervisory authority.. Crucially, this decree focuses on regulation, licensing, and consumer protection, rather than directly imposing specific crypto taxes. The tax implications arise from how assets defined under this decree are treated under the general tax code.. Generally Exempt: San Marino does not levy capital gains tax on individuals for profits derived from the sale of financial instruments, including, by interpretation, cryptocurrencies, provided that these activities are not carried out in a professional or business capacity.. This is a significant advantage for individual investors. If an individual is simply buying and selling crypto for personal investment, any gains are typically tax-free.

Key Facts

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