The publication Lexology Panoramic Cryptoassets & Blockchain 2025 – Liechtenstein provides a comprehensive analysis of the progressive and innovation-friendly framework conditions for cryptoassets and blockchain projects in Liechtenstein.
Liechtenstein has established itself as a particularly crypto-friendly location due to its proactive approach to blockchain and distributed ledger technology (DLT). A working group was set up in 2018 to develop a sustainable legal framework, which culminated in the entry into force of the Blockchain Act (Act on Tokens and Trusted Technology Service Providers, TVTG) in 2020.
The TVTG is technology-neutral and regulates the token economy, including service providers such as exchanges and custodians under the supervision of the Financial Market Authority of Liechtenstein (FMA Liechtenstein). Particularly noteworthy is the token container model (TCM), which provides legal certainty for the ownership, possession and transfer of cryptoassets; Liechtenstein has since been considered a pioneer in the tokenisation of real assets.
MiCAR introduces new licensing requirements for custody, administration, trading platforms, crypto exchanges, and advisory and portfolio management services.
Many of these activities were already regulated under the TVTG, which was adapted to MiCAR in February 2024. However, civil law aspects of cryptoassets remain regulated nationally under the TVTG. 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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