{ "jurisdiction_id": "IS", "jurisdiction": "Iceland", "url": "https://cryptoassets.gi/jurisdictions/iceland/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-17", "schema_version": "crypto-v2.0.0", "counts": { "modules": 8, "sourced_findings": 14, "source_register": 12 }, "modules": [ { "code": "crypto_licensing", "name": "Crypto Licensing", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/iceland/#crypto-licensing-crypto-licensing", "standing_position": "Iceland is an EEA/EFTA state; a MiCA authorisation granted by any EU/EEA competent authority already carries passporting rights into Iceland as part of the EEA single market for crypto-asset services. However, MiCA's own domestic transposition into Icelandic law lags the EU timeline: as of the most recent ESMA compliance materials located, a bill to implement MiCA in Icelandic law was only expected to be submitted to Alþingi (Parliament) in fall 2025 with an intended entry into force of 1 January 2026, and the Central Bank of Iceland's designation as the national competent authority (NCA) is still flagged with an asterisk denoting non-finalised formal designation status. Pending confirmation, the applicable domestic regime for VASPs (virtual asset service providers) is the pre-MiCA AML Act framework, which already requires licensing/registration and risk-based AML/CFT supervision of VASPs, consistent with FATF Recommendation 15.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "token_classification", "name": "Token Classification", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/iceland/#token-classification-token-classification", "standing_position": "MiCA's classification taxonomy (asset-referenced tokens, e-money tokens, other/utility crypto-assets) is the prospective classification framework for Iceland once domestic transposition is complete, but it is not yet binding under Icelandic law. Prior to any MiCA transposition, Iceland's only operative bespoke classification precedent is the e-money designation granted to Monerium in 2019, which functions as an EMT-type precursor under the existing EU/EEA e-money framework.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "on_chain_activity_regime", "name": "On-Chain Activity Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/iceland/#on-chain-activity-regime-on-chain-activity-regime", "standing_position": "No Iceland-specific bespoke rules were located distinguishing staking, DeFi lending, DEX operation, mining, node/validator operation, or tokenization as separate regulatory categories. Coverage is expected to arrive only via MiCA transposition (which itself does not comprehensively regulate DeFi/staking) and/or future Icelandic secondary legislation; no primary or secondary source evidencing a bespoke on-chain-activity regime for Iceland was found in this pass.", "findings": [] }, { "code": "stablecoin_regime", "name": "Stablecoin Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/iceland/#stablecoin-regime-stablecoin-regime", "standing_position": "Iceland has no domestically transposed MiCA asset-referenced-token/e-money-token issuance-authorisation regime as of this research pass. The closest operative analog is the pre-MiCA e-money institution (EMI) framework, under which Monerium (Reykjavik) was authorised by the Financial Supervisory Authority to issue blockchain-based e-money redeemable EEA-wide, subject to safeguarding/segregation of customer funds and unconditional redemption rights.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "consumer_protection", "name": "Consumer Protection", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/iceland/#consumer-protection-consumer-protection", "standing_position": "No Iceland-specific consumer-protection rulebook for crypto-assets (custody segregation, complaint handling, marketing restrictions, suitability) was located; MiCA's Title V conduct-of-business requirements are pending domestic transposition. In the interim, the pan-EU/EEA joint warning from EBA, ESMA and EIOPA on the risks of crypto-assets applies as non-binding supervisory guidance across the EEA, including Iceland.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "tax_treatment", "name": "Tax Treatment", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/iceland/#tax-treatment-tax-treatment", "standing_position": "No Tier-1 or Tier-2 primary source specific to Iceland's tax treatment of crypto-asset gains, income, VAT/GST, withholding, or reporting obligations was located in this research pass. This is flagged as a genuine evidence gap rather than an assertion of no tax liability; escalation to a primary source (Ríkisskattstjóri / Iceland Revenue and Customs guidance) is recommended before publication of any tax_treatment claim.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "cross_border_transfer", "name": "Cross-Border Transfer", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/iceland/#cross-border-transfer-cross-border-transfer", "standing_position": "As an EEA/EFTA member, Iceland participates in the MiCA single-market passporting regime: a crypto-asset service provider authorised under MiCA in any EU member state (or, prospectively, in Iceland itself once its transposition is finalised) may serve customers across the full EEA, including Iceland, without separate local authorisation. The EU crypto travel-rule instrument, Regulation (EU) 2023/1113, is an EEA-relevant text whose domestic incorporation status for Iceland was not independently confirmed in this pass.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "aml_cft_regime", "name": "AML/CFT Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/iceland/#aml-cft-regime-aml-cft-regime", "standing_position": "Crypto AML/CFT obligations for Iceland are handled under the fleet's shared Financial Integrity Module (FIM) aml_ctf subscription; this baseline does not independently emit aml_cft_regime claims to avoid duplicate authorship. Disambiguation context only: Iceland's AML Act extends FATF R.15/INR.15 VASP obligations (licensing/registration, CDD, STR reporting, sanctions screening) under Central Bank of Iceland supervision.", "findings": [] } ] }