San Marino has a clear regulatory framework for cryptocurrencies, including the Delegated Decree No. 37/2019 on Blockchain Technology. The Central Bank of San Marino oversees financial and crypto-related activities with updated regulations and guidance.
| Status | Legal |
| Risk Score | 30/100 (Moderate Risk) |
| Region | europe |
| Currency | EUR |
| Capital Gains (Personal) | 0% - no capital gains tax in San Marino for individuals |
| Capital Gains (Corporate) | 17% corporate tax |
| VAT on Crypto | No |
| Staking Tax | No specific guidance |
| Airdrop Tax | No specific guidance |
San Marino has no capital gains tax for individuals. Corporate income is taxed at 17%.
| Required | No |
| Regulator | BCSM |
| Framework | Delegated Decree No. 37/2019 on Blockchain Technology |
| Ease | unknown |
| Cost | N/A |
The Delegated Decree No. 37/2019 provides the regulatory framework for blockchain and crypto activities, but specific licensing details are not provided in the source.
Status: Unclear
No specific DeFi regulation
Status: no_rules
No specific stablecoin framework
Status: no_rules
No specific NFT regulation
| Legal | Yes |
| Electricity | $0.18/kWh |
| Renewable | 30% |
| Infrastructure | good |
Mining is legal with moderate electricity costs and 30% renewable energy share. Infrastructure is rated good due to stable European standards.
| Stability | stable |
| Sanctions | No |
| Corruption Index | 65/100 |
| Banking Access | moderate |
Last reviewed: 2026-04-13 · Data source: Soken Crypto Legal Map
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