FMA Liechtenstein
The FMA, the Financial Market Authority Liechtenstein, is the integrated supervisor of the Liechtenstein financial center and has its offices at Landstrasse 109 in Vaduz. It supervises banks, investment firms, asset managers, funds, insurers, pension funds, payment and e-money institutions, and it oversees the rules against money laundering.
Liechtenstein belongs to the European Economic Area, so EU financial market law applies there through the EEA Agreement, including MiCA since 1 February 2025. Under the national blockchain act TVTG, the FMA also registers service providers on blockchain systems, a regime that exists alongside MiCA.
FMA Liechtenstein register of licensees
The FMA keeps databases and lists of the financial intermediaries with a Liechtenstein license, so anyone can check whether a firm may offer a service there. Separate lists name foreign firms that serve Liechtenstein clients through the free movement of services in the EEA or a branch, and Swiss firms that may work in Liechtenstein under agreements between the two countries.
Each sector of the FMA website has its own register, for example for investment firms, asset management companies, alternative investment fund managers, UCITS management companies and providers under MiCA.
Warning notices and IOSCO warnings
The FMA publishes warning notices about firms and websites that offer financial services without the required authorization. A second list passes on the warnings of other supervisors that the International Organization of Securities Commissions collects, so investors can check offers from abroad in one place.
MiCA authorizations and notifications
The EEA MiCA implementation act, the EWR-MiCA-DG, entered into force on 1 February 2025 and made MiCA applicable in Liechtenstein. The FMA had offered preliminary discussions since June 2024 and accepted preliminary applications from October 2024, and its guidance for crypto-asset service providers calls the deadlines of the procedure extremely strict. Banks and other licensed firms can offer crypto services after a notification under Article 60, while new providers need a full authorization under Article 63.
The ESMA register of 16 October 2026 lists 12 entries for Liechtenstein, six authorizations and six notifications. RULEMATCH Europe, Bitcoin Suisse (Europe) and Sygnum Europe received authorizations in June 2026, followed by SMART VALOR and Paymonade in July. Among the banks, LGT Bank notified the FMA on 19 December 2025, and Bank Frick followed four days later.
Upcoming events on crypto regulation
The TVTG and blockchain service providers
The Token and TT Service Provider Act, the TVTG, is the national blockchain act of Liechtenstein and defines the rules for services on transaction systems based on trustworthy technologies. The TVTG entrusts the FMA with the registration of certain service providers, and it implements the recommendations of the Financial Action Task Force against money laundering for these services.
The TVTG is not part of Liechtenstein financial market law, so registered TT service providers are not financial intermediaries and are not under ongoing supervision. The FMA acts only on the ad hoc reports that the act requires or on notices from third parties, and it points out that clients get less protection than with a licensed intermediary. Recent amendments keep MiCA and the TVTG side by side with areas of application that exclude each other.
Executive board and board of directors
Mario Gassner is chief executive of the FMA, and Alexander Imhof is his deputy and heads the insurance and pension funds division. Markus Meier leads the banking division, Franz-Anton Steurer the asset management and markets division, Simone Edelmann-Böniger the anti-money laundering division and Martin Schädler the operations division.
Christian Batliner chairs the board of directors, with Volkmar Ritter as vice chairman. The board sets the strategy of the FMA, advises the government on financial market strategy and elects the members of the executive board after a public search.
FMA in Vaduz: address and contact
The FMA has its offices at Landstrasse 109 in 9490 Vaduz, with the postal address PO Box 279, and the switchboard answers on +423 236 73 73. Questions about MiCA authorizations and notifications go to the fintech unit of the asset management and markets division.
Documents that the FMA signs carry an electronic signature, which anyone can check online. For a printed document, the FMA confirms in writing whether it issued the document and whether the content is unchanged.
FMA Liechtenstein and Finance Loop
Banks and crypto firms in Vaduz serve clients in Germany and the rest of the EEA on licenses and notifications of the FMA. Finance Loop members discuss MiCA, the TVTG and tokenization in Liechtenstein at events on digital assets and regulation.
Finance Loop is a professional network and has the goal of driving the institutional use of emerging technologies in finance, such as AI, tokenization, stablecoins, and DeFi. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.