What is Svalbard and Jan Mayen's FATF status?

Svalbard and Jan Mayen is classified by FATF as: fsrb_only.

Are VASPs licensed in Svalbard and Jan Mayen?

Yes — licensing is required for VASPs.

What is the AML/KYC regime in Svalbard and Jan Mayen?

KYC is mandatory for crypto businesses.

🇸🇯 Svalbard and Jan Mayen

Svalbard and Jan Mayen follow Norwegian financial regulation including the Markets in Crypto-Assets Regulation (MiCA), with clear regulatory oversight by Finanstilsynet ensuring financial stability and consumer protection.

Overview

Status	Legal
Risk Score	28/100 (Moderate Risk)
Region	europe
Currency	NOK

Tax Information

VAT on Crypto

No explicit crypto tax details provided on the regulator page; Norwegian tax rules likely apply.

Licensing & Registration

Required	Yes
Regulator	Finanstilsynet
Framework	Markets in Crypto-Assets Regulation (MiCA)
Ease	medium

Licensing and authorization are required under Norwegian financial regulation overseen by Finanstilsynet.

Enforcement Activity

Level: Moderate

Enforcement focused on unlicensed operators and consumer protection

AML / KYC

KYC Required	Yes
Travel Rule	Yes
FATF Member	No
FATF Status	fsrb_only
FATF Body	FATF
Suspicious-Activity Reporting	Yes

DeFi, Stablecoins & NFTs

Status: regulated

DeFi activities are regulated under the broader Norwegian financial regulatory framework.

Stablecoins

Status: regulated

Stablecoins are regulated under the Markets in Crypto-Assets Regulation (MiCA) as part of Norwegian financial law.

NFTs

Status: no_rules

No specific NFT regulation

Mining

Legal	Yes
Electricity Cost	$0.15/kWh
Renewable Energy	30%
Infrastructure	good

Mining is legal with moderate electricity costs and 30% renewable energy; infrastructure is good due to Norwegian standards.

Geopolitical Risk

Stability	stable
Sanctions	No
Corruption Index	85/100
Banking Access	open

Risk Factors

geopolitical tensions in Europe
high household debt in Norway

Svalbard and Jan Mayen benefit from stable Norwegian governance and strong institutions, with low corruption and open banking for crypto businesses. Regional geopolitical tensions pose moderate risk.