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Act No 1.482 of 17 December 2019 for a Digital Principality

07/01/2020

On 27 December 2019, Act No 1.482 for a Digital Principality was published in Monaco's Official Journal (Journal de Monaco). 

The Act  is part of the "Extended Monaco" programme aimed at offering a new cycle of economic prosperity thanks to digital tools. As such, the Act promotes the use of digital tools and trust services, not only in the context of commercial relations, but also between the Administration and the citizens.

A trust service is an electronic service which includes the creation, verification and validation of electronic signatures, electronic stamps or timestamps, electronic registered mail services and electronic certificates.

In addition, the Act enhances the probative value of writing in electronic form and regulates the provision of cryptology services and the use of trust service providers to ensure the security of information exchanged electronically.

It also creates a legal framework for the activities of websites that collect, moderate and disseminate consumer notices. 

Finally, the Act introduces the notions of "digital asset", "token" and "private or public key" into Monegasque law.

It should be noted in this respect that Act No 1.482 of 17 December 2019 for a Digital Principality is a general text which includes definitions that will serve as a basis for specific legislation that may be introduced in the future, such as Bill No 995 relating to Blockchain technology.

Authors

Olivier Marquet
Olivier Marquet
Managing Partner
Monaco