Andorra

DeFi Intel Research Desk2026-07-14Europe

Is crypto legal in Andorra? (2026)

Yes — cryptocurrency is legal in Andorra. Current status: Legal · regulated (Law 24/2022). Oversight sits with AFA · Autoritat Financera Andorrana. Full details — governing law, licensing, tax and dated enforcement history — follow below (last reviewed 2026-07-14).

Framework: Andorra regulates crypto-assets under Law 24/2022, of 30 June, on the digital representation of assets through the use of cryptography and distributed-ledger/blockchain technology (published in the BOPA on 20 July 2022, in force from 20 October 2022). Andorra is not an EU/EEA member, so the EU's MiCA regulation does not apply directly; the country runs its own bespoke digital-assets regime.

The law brings the issuance, custody, exchange and trading of digital assets — including utility tokens, security tokens and stablecoins, plus rules on the collateral that can back stablecoins — under the supervision of the Autoritat Financera Andorrana (AFA), the Principality's financial regulator. Any legal entity that wants to issue, hold or trade digital assets must obtain express AFA authorisation, which examines the business model, technology, the suitability and solvency of administrators, minimum capital and civil-liability insurance. Crucially, applicants cannot approach the AFA directly: each must appoint a registered "digital overseer" (supervisor digital) — a lawyer or economist who is affiliated and holds Andorran nationality or tax residence — to conduct the administrative dialogue with the regulator. Decree 478/2022, of 23 November 2022, sets out the requirements to act as a digital overseer. NFT issuance falls outside the law's scope, though NFT-related services still require a designated overseer. Mining operators must register with the Administrative Registry of Crypto-Asset Mining Entities established by the law's third additional provision.

Tax treatment

Andorra is a low-tax jurisdiction with headline personal and corporate rates capped at 10%. Tax advisers report that gains on cryptocurrency are treated as capital gains under the Personal Income Tax (IRPF), with each disposal — including crypto-to-crypto exchanges — treated as a taxable capital variation measured in euros; there is no reduced rate for long-held assets. Mining and staking/airdrop rewards conducted as a business are taxed as income, and corporate crypto activity falls under the 10% corporate tax (IS). A frequently cited annual savings-income allowance (the first €3,000) is reported by advisory sources; verify the precise figure and treatment with the tax administration before relying on it. Draft legislation that would zero-rate crypto gains reinvested in Andorran assets has been discussed but is not law.

• Capital-gains rate (crypto disposals): up to 10% under IRPF; each disposal/exchange is a taxable event
• Holding-period relief: none reported for crypto
• Corporate rate (IS): up to 10%

Travel rule applicability

Status: AML/CFT-supervised under the FATF/MoneyVal standard. Digital-asset operators are obliged subjects under Andorra's anti-money-laundering and counter-terrorist-financing rules, supervised by the Financial Intelligence Unit (UIFAND), with KYC, beneficial-owner identification, risk management and suspicious-transaction reporting. Andorra is assessed by MoneyVal (the Council of Europe's FATF-style body); its follow-up reporting has credited the build-out of a regulatory and supervisory framework for virtual assets and VASPs while flagging the need for stronger enforcement against sanctions evasion. The specific numeric travel-rule transfer threshold transposed into Andorran law is pending verification.

Notable enforcement actions

• Supervisory context. MoneyVal's follow-up assessment of Andorra pressed for stronger enforcement to prevent virtual assets being used to evade targeted financial sanctions; no publicly reported AFA or UIFAND crypto-specific enforcement action was identified during this research cycle.
• Specific actions: pending verification — submit documented Andorra enforcement matters to research@defi-intel.com.

Public licensed CASP list

The AFA maintains a public register of authorised digital-asset "overseers" and "participants/actors related to digital assets." As of the register snapshot fetched on 14 July 2026, five participants were authorised to provide custody and administration, reception and transmission of orders, and execution of orders for digital assets on behalf of third parties:

• Mora Banc Grup, SA — PAD-001/24 (authorised 23 Feb 2024)
• Prosegur, Custodia d'Actius Digitals, SLU — PAD-002/24 (authorised 13 Dec 2024)
• Fimarge, Societat Financera d'Inversió, SA — PAD-003/24 (authorised 13 Dec 2024)
• Crèdit Andorrà, SA — PAD-004/25 (authorised 16 May 2025)
• Onyze Assets, SLU — PAD-005/25 (authorised 17 Jun 2025)

Consult the AFA register for live status and for the separate list of registered digital overseers.

Comparison to neighbours

Compare Andorra crypto regulation with its two geographically adjacent jurisdictions:

Doing business in Andorra — practical notes

Issuing, custodying or trading digital assets for Andorran clients requires AFA authorisation under Law 24/2022, obtained through a registered digital overseer, with minimum-capital, insurance and fit-and-proper conditions and full AML/CFT obligations under UIFAND. Notably, several established Andorran banks and financial firms — Mora Banc, Crèdit Andorrà and Fimarge among them — have taken the participant route to offer regulated custody and order-handling, signalling that the regime is bank-led rather than aimed purely at crypto-native start-ups. Andorra's sub-10% tax ceiling is a draw, but tax residency generally requires physical presence of at least 183 days per year, and structuring should be verified against current AFA and tax-administration guidance.

Methodology and sources

This profile was researched and updated by DeFi Intel's research desk on 2026-07-14 from the primary and secondary sources listed below, including the AFA's own supervised-entities register. Claims that could not be verified against a source are omitted or marked pending — we do not republish unverified third-party datasets. Submit corrections and primary-source links to research@defi-intel.com.

Sources

• AFA — register of participants/actors related to digital assets (5 authorised participants)
• AFA — Innovation & FinTech: Law 24/2022, digital overseer role, Decree 478/2022
• AFA — supervised entities (digital-asset overseers and participants categories)
• Orbitax — Andorra publishes Law 24/2022 regulating digital assets (BOPA 20 July 2022)
• UIFAND — Andorra's Financial Intelligence Unit and MoneyVal membership
• FATF / MoneyVal — Andorra follow-up report on AML/CFT and virtual assets
• TaxRavens — Andorra cryptocurrency taxation overview (2026)