Monaco among first signatories to new asset recovery treaty
By Zak Jackson, MonacoViews Editorial
Monaco has signed a new Council of Europe treaty aimed at recovering criminal assets, including cryptocurrencies, as one of the first eight nations to do so.
The Principality has put its name to a new Council of Europe convention designed to help states track down and recover assets obtained through criminal activity. Monaco was among the first eight countries to sign, joining Georgia and Greece in the initial group of signatories.
The treaty specifically addresses the growing challenge of cryptocurrency-linked crime, giving authorities new legal tools to trace and seize digital assets tied to money laundering and other offences. For a jurisdiction that has worked to shed its old reputation as a haven for undeclared wealth, signing early sends a clear signal about where Monaco wants to stand on financial transparency.
The move fits a pattern. Over the past decade the government has tightened banking disclosure rules, joined international tax information exchanges and strengthened its financial intelligence unit. This latest commitment adds another layer to that effort, aligning Monaco more closely with European standards on tracking illicit finance across borders, an issue that matters directly to a principality whose economy depends heavily on international banking and wealth management.