Ulaanbaatar
Law on virtual asset service provider enters into force
Economy
Ulaanbaatar/MONTSAME/. The Law on Virtual Asset Service
Provider and accompanying laws (adopted on December 17, 2021) were published in
№6 of the Government Information bulletin on February 14, 2022. The
above-mentioned laws entered into force from March 1, 2022 according to
Paragraph 26.3 of the Constitution of Mongolia.
Accordingly, legal entities shall not provide virtual asset
services without registering with the Financial Regulatory Commission of
Mongolia. Please note that legal entities that are not registered as virtual
asset service providers by the FRC, shall be subject to liabilities
specified in related laws, if they offer virtual assets to the public, organize
trading activities, participate in financial activities, and/or provide
services.
Please click the links below to see the details.
The Law on Virtual Asset Provider
Amendments to the accompanying laws
