The current edition of Lexology Panoramic Cryptoassets & Blockchain 2026 – Liechtenstein provides a comprehensive overview of Liechtenstein crypto regulation and Liechtenstein blockchain regulation for crypto-assets, cryptoassets, digital assets, tokenisation/tokenization, blockchain projects and distributed ledger technology (DLT). The publication undercovers why Liechtenstein remains, also in 2026, one of the leading locations for digital financial innovation.
The most significant current legislative development for Liechtenstein’s FinTech sector is the full implementation of the Regulation (EU) 2023/1114 on Markets in Crypto-assets (“MiCAR”). While the Token and TT Service Provider Act (“TVTG”, frequently referred to internationally as the Liechtenstein Blockchain Act) created a national legal framework at an early stage, MiCAR now introduces uniform standards in the EU and EEA governing the issuance and public offering of crypto assets, their admission to trading, and the licensing of certain service providers (CASPs). Liechtenstein prepared for this change early on and transposed MiCAR into national law with the EEA MiCA Implementation Act (EWR-MiCA-Durchführungsgesetz, “EWR-MiCA-DG”) even before MiCAR became applicable in the EEA.
On 24 June 2025, MiCAR was also formally incorporated into the EEA Agreement. MiCAR is now directly applicable throughout the European Economic Area (EEA) and enables full passporting to all EU and EEA member states for regulated services within MiCAR’s scope (MiCAR passporting).
Notwithstanding MiCAR’s entry into force, the TVTG continues to apply in Liechtenstein. The jurisdiction is therefore characterised by a dual regulatory regime. On one hand MiCAR governs those activities that have been harmonised at EU/EEA level, while the TVTG remains relevant for areas outside MiCAR’s scope, such as non-fungible tokens (NFTs) and the civil-law aspects of tokenisation. Of particular note, MiCAR expressly leaves key questions concerning ownership, transfer and enforceability of rights to cryptoassets to national legislators. Liechtenstein had already created a corresponding legal framework through the TVTG before the introduction of MiCAR. In practice, this preserves a clear comparative advantage for projects that require legally robust rights allocation, transferability and enforceability in addition to MiCAR-compliant market access. This is also frequently relevant for token issuance, tokenised real-world assets (RWA) and other digital asset projects where legal certainty on title, transfer and enforcement is a decisive structuring factor.
We invite you to explore our Lexology Panoramic Cryptoassets & Blockchain chapter and find out how your FinTech, cryptoasset or blockchain project can also benefit optimally from the Liechtenstein legal framework.
Niedermüller Rechtsanwälte has an experienced team of specialists in the FinTech, cryptoasset and blockchain sectors. Under the leadership of Managing Partner Dr Matthias Niedermüller M.B.L.-HSG and Partner Dr Giuseppina Epicoco, the firm assists clients in the successful implementation of a wide range of cryptoasset and FinTech projects. Our team supports you from strategic planning to regulatory implementation.
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