Serbia is Step Closer Towards Regulating Blockchain Technology and Cryptocurrencies

Serbian Chamber of Commerce has announced that the working group for drafting a proposal for legal framework to govern blockchain technology and trading with cryptocurrencies has been established.

The working group is comprised of the representatives of the Chamber of Commerce of Serbia, National Bank of Serbia, Ministry of Finance, Belgrade Stock Exchange, and the Government.

Within the next 6 months, the working group would draw up a document to be used as the base on which the future law governing blockchain technology and trading with cryptocurrencies could be drafted.

Currently, in Serbia, there is no regulation specifically regulating blockchain technology and cryptocurrencies. General laws governing the capital market, foreign exchange, anti-money laundering, payment services, tax, etc. are applicable to the blockchain technology and cryptocurrencies as well.

Up until now, the Securities Exchange Commission issued a warning notice to investors in crypto assets, as well as a public call for consultation on the regulation of crypto assets in 2019.

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