{
 "jurisdiction_id": "LI",
 "jurisdiction": "Liechtenstein",
 "url": "https://payments.gi/jurisdictions/liechtenstein/",
 "generator": "render_jid v13.3.0",
 "date_modified": "2026-08-11",
 "schema_version": "world-payments-v1",
 "counts": {
  "modules": 14,
  "sourced_findings": 64,
  "source_register": 111
 },
 "modules": [
  {
   "code": "W1a",
   "name": "Licensing, Authorisation & Market Access",
   "confidence": "Confirmed",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w1a-licensing-authorisation-market-access",
   "standing_position": "Liechtenstein's payments licensing regime rests on the Payment Services Act (ZDG, PSD2 transposition) and the E-Money Act (EGG), both supervised by the FMA's Banking Supervision Section, with a small licensed population (three EMIs, one PI, alongside 11 banks) as of end-2025. PSD3/PSR transposition via the EEA channel is the live horizon item shaping 2026 authorisation practice.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "primary_statute",
     "source": "https://advapay.eu/emoney-and-payment-institution-licensing/payment-and-e-money-institution-license-in-liechtenstein/",
     "source_url": "https://www.fma-li.li/en/financial-intermediaries/financial-institutions-division/payment-institutions",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "primary_statute",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.fma-li.li/en",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "regulator_guidance",
     "source": "https://www.fma-li.li/en/financial-intermediaries/financial-institutions-division/payment-institutions",
     "source_url": "https://www.fma-li.li/en",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "regulator_guidance",
     "source": "https://globallawexperts.com/payment-institution-licence-liechtenstein-requirements/",
     "source_url": "https://www.fma-li.li/en",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "primary_statute",
     "source": "https://practiceguides.chambers.com/practice-guides/banking-regulation-2026/liechtenstein",
     "source_url": "https://www.fma-li.li/en",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W1b",
   "name": "Conduct, Safeguarding & Financial Promotions",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w1b-conduct-safeguarding-financial-promotions",
   "standing_position": "Safeguarding of client funds is mandated for PIs/EMIs under the ZDG/EGG regime with prior FMA notification of material changes; conduct oversight sits with the same integrated FMA supervisor responsible for prudential matters. Financial-promotion enforcement in the payments space is not a heavily separately litigated area, though the FMA holds general warning/publication powers.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "safeguarding_rule",
     "source": "https://advapay.eu/emoney-and-payment-institution-licensing/payment-and-e-money-institution-license-in-liechtenstein/",
     "source_url": "https://advapay.eu/emoney-and-payment-institution-licensing/payment-and-e-money-institution-license-in-liechtenstein/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "regulator_guidance",
     "source": "https://globallawexperts.com/payment-institution-licence-liechtenstein-requirements/",
     "source_url": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "conduct_regime",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "dispute_resolution",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "dispute_resolution",
     "source": "https://commission.europa.eu/about/contact/problems-and-complaints/complaints-about-breaches-eu-law-member-states/redress-national-level_en",
     "source_url": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W2",
   "name": "Stablecoins & Digital Money",
   "confidence": "Confirmed",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w2-stablecoins-digital-money",
   "standing_position": "MiCAR is fully pre-implemented in Liechtenstein via the EWR-MiCA-Durchfuhrungsgesetz, in force since 1 February 2025. The 1 July 2026 TVTG-to-CASP conversion deadline has passed; FMA-LI has granted Article 63 CASP authorisations to Damoon Technology (Europe) AG (10 July 2026) and Sygnum Europe AG (26/30 June 2026), and Liechtenstein has emerged as a preferred EEA passporting entry point for Swiss crypto firms that cannot passport directly via FINMA licences.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "primary_statute",
     "source": "https://www.fma-li.li/en/supervision-regulation/fintech/tvtg",
     "source_url": "https://www.fma-li.li/en/supervision-regulation/fintech/tvtg",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "primary_statute",
     "source": "https://practiceguides.chambers.com/practice-guides/fintech-2026/liechtenstein",
     "source_url": "https://www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/liechtenstein/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "regulatory_taxonomy",
     "source": "https://www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/liechtenstein/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "authorisation_notice",
     "source": "https://www.fma-li.li/en",
     "source_url": "https://www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/liechtenstein/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "primary_regulation",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/liechtenstein/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W3",
   "name": "Operational Resilience & Critical Infrastructure",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w3-operational-resilience-critical-infrastructure",
   "standing_position": "DORA is fully in force in Liechtenstein via the EEA-DORA Implementation Act, with accelerated national application from 1 February 2025 and full incorporation into the EEA Agreement effective 1 July 2025, superseding the previous FMA Directive 2021/3 ICT-security regime for in-scope entities.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "primary_statute",
     "source": "https://www.fma-li.li/en/supervision-regulation/dora",
     "source_url": "https://www.fma-li.li/en/supervision-regulation/dora",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "primary_statute",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.fma-li.li/en/supervision-regulation/dora",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "regulator_notice",
     "source": "https://www.fma-li.li/en/news/dora-in-force-new-event-related-notification-1091",
     "source_url": "https://www.fma-li.li/en/supervision-regulation/dora",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "regulator_guidance",
     "source": "https://www.fma-li.li/en/supervision-regulation/dora/impact-for-liechtenstein",
     "source_url": "https://www.fma-li.li/en/supervision-regulation/dora",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "reporting_obligation",
     "source": "https://thomasmurray.com/compliance-digest/dora-register-information-2026-outlook-and-guidance",
     "source_url": "https://www.fma-li.li/en/supervision-regulation/dora",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W4",
   "name": "Scheme & Network Compliance",
   "confidence": "Assessed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w4-scheme-network-compliance",
   "standing_position": "Liechtenstein payment businesses operate under EEA-harmonised scheme and card-network rules (PCI DSS, CBPR2) rather than a bespoke national scheme-compliance statute; the Cross-Border Payments Regulation (CBPR2) is directly applicable following EEA incorporation, and PCI DSS compliance is a contractual card-brand requirement rather than a distinct national law.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "primary_regulation",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "scheme_rule",
     "source": "https://stripe.com/resources/more/payments-in-liechtenstein",
     "source_url": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W5",
   "name": "Payment Corridor Dynamics",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w5-payment-corridor-dynamics",
   "standing_position": "Liechtenstein's core payment corridor runs through the Swiss franc monetary union with Switzerland (Currency Treaty 1980), giving access to the Swiss Interbank Clearing (SIC/SIC5 instant-payments) system, while its EEA membership independently gives access to SEPA for euro-denominated cross-border transfers via euroSIC and the SIX NASO registration channel.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "settlement_system",
     "source": "https://www.six-group.com/en/products-services/banking-services/interbank-clearing/sic.html",
     "source_url": "https://www.six-group.com/en/products-services/banking-services/interbank-clearing/sic.html",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "settlement_system",
     "source": "https://www.infoguard.ch/en/blog/sic5-what-you-need-to-know-about-banks-instant-payments",
     "source_url": "https://www.six-group.com/en/products-services/banking-services/interbank-clearing/eurosic/payments-ch-li.html",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "access_rule",
     "source": "https://www.lexology.com/library/detail.aspx?g=8098de48-b0e1-4d44-8f11-d108a5d6a665",
     "source_url": "https://www.six-group.com/en/products-services/banking-services/interbank-clearing/eurosic/payments-ch-li.html",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "settlement_system",
     "source": "https://www.six-group.com/en/products-services/banking-services/interbank-clearing/eurosic/payments-ch-li.html",
     "source_url": "https://www.six-group.com/en/products-services/banking-services/interbank-clearing/eurosic/payments-ch-li.html",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "scheme_membership",
     "source": "https://www.six-group.com/en/products-services/banking-services/payment-standardization/standards/sepa.html",
     "source_url": "https://www.six-group.com/en/products-services/banking-services/interbank-clearing/eurosic/payments-ch-li.html",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W6",
   "name": "Industry Structure & Commercial Dynamics",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w6-industry-structure-commercial-dynamics",
   "standing_position": "The Liechtenstein payments-adjacent financial sector is bank-dominated and private-banking-oriented (11 banks, CHF 500bn AUM at end-2025), with a comparatively small but growing licensed payments/e-money population (3 EMIs, 1 PI) and an active crypto-banking niche (Bank Frick, Sygnum, LGT) layered on top of traditional wealth management.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "market_structure",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "market_structure",
     "source": "https://thebanks.eu/banks/9868",
     "source_url": "https://tracxn.com/d/explore/fintech-startups-in-liechtenstein/__yCpaKPFTlkZqAiiUSM-AyraGEzY8-neiO0HJTmXHMCY",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "market_structure",
     "source": "https://tracxn.com/d/geographies/liechtenstein/__GUAdFG5oaD6X_RJuiztBsSse0038DPx5-ModHsCho2Y",
     "source_url": "https://tracxn.com/d/explore/fintech-startups-in-liechtenstein/__yCpaKPFTlkZqAiiUSM-AyraGEzY8-neiO0HJTmXHMCY",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "market_structure",
     "source": "https://tracxn.com/d/explore/fintech-startups-in-liechtenstein/__yCpaKPFTlkZqAiiUSM-AyraGEzY8-neiO0HJTmXHMCY",
     "source_url": "https://tracxn.com/d/explore/fintech-startups-in-liechtenstein/__yCpaKPFTlkZqAiiUSM-AyraGEzY8-neiO0HJTmXHMCY",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "market_structure",
     "source": "https://practiceguides.chambers.com/practice-guides/banking-regulation-2026/liechtenstein",
     "source_url": "https://tracxn.com/d/explore/fintech-startups-in-liechtenstein/__yCpaKPFTlkZqAiiUSM-AyraGEzY8-neiO0HJTmXHMCY",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W7",
   "name": "Legal & Litigation",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w7-legal-litigation",
   "standing_position": "Payments-adjacent litigation in Liechtenstein centres on crypto-custody incident response (the 2022 LCX hack, with Liechtenstein courts issuing freezing orders enforced abroad) and general FMA administrative-enforcement powers (warnings, professional bans, publication of decisions), appealable to the FMA Complaints Commission and then the administrative court.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "litigation",
     "source": "https://hacken.io/industry-news/lcx-hack-january-2022/",
     "source_url": "https://hacken.io/industry-news/lcx-hack-january-2022/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "enforcement_power",
     "source": "https://www.fma-li.li/en/supervision-regulation/enforcement",
     "source_url": "https://globallawexperts.com/trust-law-reform-liechtenstein/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "enforcement_process",
     "source": "https://iclg.com/practice-areas/anti-money-laundering-laws-and-regulations/liechtenstein",
     "source_url": "https://globallawexperts.com/trust-law-reform-liechtenstein/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "litigation",
     "source": "https://iclg.com/practice-areas/consumer-protection-laws-and-regulations/liechtenstein",
     "source_url": "https://globallawexperts.com/trust-law-reform-liechtenstein/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "enforcement_reform",
     "source": "https://globallawexperts.com/trust-law-reform-liechtenstein/",
     "source_url": "https://globallawexperts.com/trust-law-reform-liechtenstein/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W8",
   "name": "Merchant Acquiring & Risk",
   "confidence": "Possible",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w8-merchant-acquiring-risk",
   "standing_position": "Liechtenstein has no bespoke national merchant-acquiring statute distinct from the EEA PSD2/PCI-DSS baseline; card-present and contactless usage is rising, but the market structure for acquiring is dominated by Swiss/EEA-linked bank-provided merchant services rather than a distinct domestic acquiring industry.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "market_practice",
     "source": "https://stripe.com/resources/more/payments-in-liechtenstein",
     "source_url": "https://stripe.com/resources/more/payments-in-liechtenstein",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W9",
   "name": "Product Innovation & Market Development",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w9-product-innovation-market-development",
   "standing_position": "Liechtenstein has no formal statutory regulatory sandbox but operates an innovation-friendly, guidance-based ecosystem centred on the FMA's internal 'Regulatory Laboratory' fintech competence team and the government's Office for Financial Market Innovation and Digitalisation (SFID), supplemented by novel legal forms (Liechtenstein Venture Cooperative) and access to the EU DLT Pilot Regime.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "innovation_framework",
     "source": "https://practiceguides.chambers.com/practice-guides/fintech-2026/liechtenstein",
     "source_url": "https://www.llv.li/en/national-administration/office-for-financial-market-innovation-and-digitalisation",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "innovation_body",
     "source": "https://www.llv.li/en/national-administration/office-for-financial-market-innovation-and-digitalisation",
     "source_url": "https://www.llv.li/en/national-administration/office-for-financial-market-innovation-and-digitalisation",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "innovation_framework",
     "source": "https://finance.li/en/quality-and-strength-of-innovation/",
     "source_url": "https://www.llv.li/en/national-administration/office-for-financial-market-innovation-and-digitalisation",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "innovation_framework",
     "source": "https://www.niedermueller.law/wp-content/uploads/2024/03/Legal500-Comparative-Guide-Fintech-2024.pdf",
     "source_url": "https://www.llv.li/en/national-administration/office-for-financial-market-innovation-and-digitalisation",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "market_development",
     "source": "https://thefintechtimes.com/liechtenstein-fintech-and-wider-digital-development-in-2026/",
     "source_url": "https://www.llv.li/en/national-administration/office-for-financial-market-innovation-and-digitalisation",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W10",
   "name": "Consumer Protection & APP Fraud",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w10-consumer-protection-app-fraud",
   "standing_position": "Consumer protection for payments customers rests on general civil-law instruments (ABGB warranty rules, Consumer Protection Act/KSchG, Act against Unfair Competition/UWG) plus FMA supervision and the extrajudicial conciliation board/FIN-Net dispute-resolution channel; Liechtenstein has no PSR-style mandatory APP-fraud reimbursement regime distinct from the general PSD2/EEA liability framework.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "primary_statute",
     "source": "https://iclg.com/practice-areas/consumer-protection-laws-and-regulations/liechtenstein",
     "source_url": "https://www.llv.li/en/national-administration/office-of-economic-affairs/consumer-protection",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "regulator_role",
     "source": "https://www.llv.li/en/national-administration/office-of-economic-affairs/consumer-protection",
     "source_url": "https://www.llv.li/en/national-administration/office-of-economic-affairs/consumer-protection",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "regulator_role",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.llv.li/en/national-administration/office-of-economic-affairs/consumer-protection",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "dispute_resolution",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/liechtenstein/",
     "source_url": "https://www.llv.li/en/national-administration/office-of-economic-affairs/consumer-protection",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "dispute_resolution",
     "source": "https://www.bafin.de/EN/Verbraucher/BeschwerdenStreitschlichtung/StreitSchlichtungsstellen/StreitSchlichtungsstellen_artikel_en.html",
     "source_url": "https://www.llv.li/en/national-administration/office-of-economic-affairs/consumer-protection",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W11",
   "name": "AML/CFT & Financial Crime",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w11-aml-cft-financial-crime",
   "standing_position": "Sentinel.gi payments-context position: Liechtenstein's AML/CFT regime is anchored in the Due Diligence Act (SPG) and Due Diligence Ordinance (SPV), implementing the EU 4th/5th AML Directives, with the FMA as principal supervisor (bar lawyers, supervised by the Chamber of Lawyers). MONEYVAL's 2022 fifth-round evaluation rated Liechtenstein compliant/largely compliant on 37 of 40 FATF recommendations, placing it among only five jurisdictions subject to the regular (non-enhanced) follow-up process.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "registry",
     "source": "sentinel.fma-li.li/en/supervision-regulation/anti-money-laundering",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": "Liechtenstein is a MONEYVAL-assessed EEA/EFTA state (not an EU member) whose Due Diligence Act and Financial Market Authority (FMA) govern AML/CFT for banks, TCSPs, foundations/Anstalten and VASPs under the bespoke Blockchain Act (TVTG). It autonomously aligns its national sanctions ordinance with EU CFSP measures rather than being bound as an EU member.",
     "instrument_type": "assessment",
     "source": "FIM (sentinel.gi) per-JID baseline profile — Liechtenstein",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Gap: sourcing-thinness",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Enforcement: OFAC (U.S. Department of the Treasury) — Sanctions-evasion typology involving Liechtenstein-domiciled foundations (Potanin/Sentimare case)",
     "instrument_type": "enforcement_action",
     "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-001)",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": "Gap: regulatory-failure",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Gap: enforcement-absence",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-001)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W12",
   "name": "Correspondent Banking, Settlement & Access",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w12-correspondent-banking-settlement-access",
   "standing_position": "Liechtenstein's settlement and correspondent-banking access is structurally dependent on Swiss financial market infrastructure under the 1980 Currency Treaty, with the SNB acting as its de facto central bank; this dependency carries legal-uncertainty risk given Switzerland's non-EU/EEA status, partially mitigated by an EU equivalence-decision moratorium until 2030.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "risk_assessment",
     "source": "https://www.elibrary.imf.org/view/journals/002/2025/077/article-A004-en.xml",
     "source_url": "https://www.elibrary.imf.org/view/journals/002/2025/077/article-A004-en.xml",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "central_bank_arrangement",
     "source": "https://practiceguides.chambers.com/practice-guides/banking-regulation-2026/liechtenstein",
     "source_url": "https://www.elibrary.imf.org/view/journals/002/2025/077/article-A004-en.xml",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "access_restriction",
     "source": "https://www.lexology.com/library/detail.aspx?g=8098de48-b0e1-4d44-8f11-d108a5d6a665",
     "source_url": "https://www.elibrary.imf.org/view/journals/002/2025/077/article-A004-en.xml",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "correspondent_bank",
     "source": "https://www.secb.de/en/",
     "source_url": "https://www.elibrary.imf.org/view/journals/002/2025/077/article-A004-en.xml",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "supervisory_integration",
     "source": "https://www.bankenverband.li/en/topics/regulation",
     "source_url": "https://www.elibrary.imf.org/view/journals/002/2025/077/article-A004-en.xml",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W13",
   "name": "Commercial Intelligence & Fintech",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/liechtenstein/#w13-commercial-intelligence-fintech",
   "standing_position": "Trailing-12-month commercial activity is dominated by MiCAR-driven authorisation events among Liechtenstein's crypto-banking cluster (Bank Frick, Sygnum, Floin), alongside continued licence consolidation as firms transition from TVTG registration to full MiCAR CASP status.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "commercial_event",
     "source": "https://thebanks.eu/banks/9868",
     "source_url": "https://thebanks.eu/banks/9868",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "commercial_event",
     "source": "https://www.fma-li.li/en",
     "source_url": "https://www.fma-li.li/en",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "commercial_event",
     "source": "https://99bitcoins.com/news/altcoins/swiss-bank-sygnum-expands-crypto-asset-management-to-germany-liechtenstein/",
     "source_url": "https://99bitcoins.com/news/altcoins/swiss-bank-sygnum-expands-crypto-asset-management-to-germany-liechtenstein/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "commercial_event",
     "source": "https://www.fma-li.li/en",
     "source_url": "https://99bitcoins.com/news/altcoins/swiss-bank-sygnum-expands-crypto-asset-management-to-germany-liechtenstein/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "market_aggregate",
     "source": "https://tracxn.com/d/explore/fintech-startups-in-liechtenstein/__yCpaKPFTlkZqAiiUSM-AyraGEzY8-neiO0HJTmXHMCY",
     "source_url": "https://99bitcoins.com/news/altcoins/swiss-bank-sygnum-expands-crypto-asset-management-to-germany-liechtenstein/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  }
 ]
}