Online Forex trading in San Marino is legal and operates under the regulatory framework established by the Central Bank of the Republic of San Marino. The Central Bank was established through Law No. 96 of June 29, 2005, and is institutionally empowered to conduct currency transactions and foreign exchange operations. The Bank has exclusive management of foreign exchange relations with the option to delegate to other banks or branches operating within the territory in compliance with applicable laws (1).
Law No. 41 of April 25, 1996 on Currency Regulations governs foreign exchange activities, authorizing the Central Bank to permit San Marino credit institutions to engage in currency and foreign exchange transactions while setting their limits and conditions. Currency and financial relations with foreign countries can be freely entertained without prejudice to compliance with regulations established by law and international agreements currently in force. Residents can possess foreign currency both in the Republic of San Marino and abroad (2).
"Currency and financial relations with foreign countries can be freely entertained, without prejudice to compliance with the regulations established by this law, by all other provisions and by the international agreements currently in force. Residents can possess foreign currency both in the Republic of San Marino and abroad."
San Marino signed a Monetary Agreement with the European Union on March 27, 2012, which grants the right to use the euro as the official currency in accordance with EU regulations. The Central Bank maintains supervisory authority over currency activities carried out by banking intermediaries and may conduct investigations, issue prescriptions, and issue immediately enforceable orders. Amendments to Law No. 41/1996 made in 2021 and 2023 reinforced the Central Bank's exclusive authority to buy and sell crude gold (1).
Source:
https://www.bcsm.sm/en/functions/statutory-functions/currency-authority
https://145065641.fs1.hubspotusercontent-eu1.net/hubfs/145065641/993Lawn41of25april1%20(1).pdf
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
