Regulator: Central Bank of Montenegro (CBCG), Capital Market Commission (Komisija za Hartije od Vrednosti) and Financial Intelligence Unit (FIU)
Montenegro adopted amendments to the Law on Prevention of Money Laundering and Terrorist Financing on February 28, 2025 (effective March 20, 2025), integrating crypto asset regulations into its AML framework. Rather than creating dedicated stablecoin legislation, the country treats all stablecoins as crypto assets subject to AML/CFT compliance. Service providers offering custody, trading, and exchange services must register with the Capital Market Commission but do not require specific licenses. The framework does not specify reserve backing requirements, redemption rights, or stablecoin-specific capital requirements. Regulatory gap exists until the Capital Market Commission establishes its crypto asset service provider register (deadline approximately December 2025). The Central Bank has also partnered with Ripple on a digital euro pilot project. As a candidate for EU membership, Montenegro is expected to adopt MiCAR in coming years, which will provide a formal regime for stablecoins.
