Serbia has recently approved legislation that regulates the digital asset market. Three cryptocurrency exchanges applied for licenses. Belgrade hopes that the three companies will be granted authorization in the next few weeks, and allow Serbs to legally buy or sell cryptocurrency.
Crypto Trading Platforms, Token Issuers Apply for Licenses in Serbia
Authorities in Serbia are currently reviewing license applications submitted by three crypto exchange offices, the country’s Minister of Finance Sinisa Mali announced this week in the parliament, local media reported. According to Tanjug News Agency, this official further elaborated on the matter:
I expect that we will issue the first licenses in the next few weeks — that is very important for us.
Mali responded to legislators’ questions by revealing that four of the issuers for digital tokens had already paid application fees. This was because Serbia is the country that has enacted laws to govern this sector. He said that the market for digital tokens and cryptocurrency is also evolving slowly but surely.
Mali revealed further that Serbia is working on its own cryptocurrency trading platform. This could launch next year. He also said that the government is intensively working to adopt a growth strategy for the Belgrade Stock Exchange, which he described as “the right instrument to support the development of our financial market.”
Serbia’s Law on Digital Assets entered into force at the end of June this year. This legislation defines cryptocurrencies such as bitcoin and digital assets that are digital records of value and can be bought, sold, transferred and exchanged.
In recent years, the number and value of digital currencies held by Serbs has increased substantially. According to a recent media report, around 200 000 people in the Southeast European nation own one or more coins.
The growing investor interest and the government’s regulatory efforts are bringing Serbia closer to the regional leaders in terms of crypto adoption. Numerous cryptocurrencies are now accepted by gas stations, supermarkets and other retailers in Croatia. Slovenia is another ex-Yugoslav republic that supports bitcoin payments. Authorities in Ljubljana have taken steps to make crypto assets more tax-friendly.
Do you think Serbia will quickly catch up with the region’s leaders in crypto adoption? Please comment below with your thoughts.
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