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Serbia is Step Closer Towards Regulating Blockchain Technology and Cryptocurrencies

Serbia is Step Closer Towards Regulating Blockchain Technology and Cryptocurrencies

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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.

By Aleksandar Popovic, Senior Associate, JPM Jankovic Popovic Mitic

JPM Jankovic Popovic Mitic at a Glance

The oldest full service commercial law firm in Serbia, founded in 1991, JPM with three decades of experience in assisting local and international businesses presence and growth not only in Serbia but throughout the SEE region.

We have accumulated a wealth of knowledge in every industrial and corporate sector, from energy to banking, transport, manufacturing and telecommunications, while remaining true to a pioneering spirit that has always drawn us to follow the latest trends and developments in providing of our services to clients. Today we use the latest legal tech available in serving our clients and are expanding our services to clients from growing industries such as renewable energy, IT and life sciences, by offering innovative solutions and a pro-active approach to broaching new grounds.

Our expertise, experience, and commitment to professional excellence mean we are routinely involved in landmark cases and transactions, while our high standing among clients and peers sees us ranked among the leading law firms by independent guides such as Chambers & Partners, Legal 500, and IFLR1000.

We are known for working closely with clients and treating their problems as our own. Our lawyers pride themselves on being team players, fast and available, specialised in terms of practice area and industry, but versatile and creative in their thinking. We believe our advice should be tailor-made and that even the thorniest issue has a legal solution.

Our membership of Lex Mundi (the world’s premiere network of independent law firms) and the TLA (a regional alliance of leading firms from Slovenia, Croatia, Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia) means we have close working relationships with first-rate firms throughout the region and around the world, enabling us to operate as the perfect hub for SEE and other multi-jurisdictional transactions.

Firm's website: http://jpm.rs/