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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

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Serbia Knowledge Partner

SOG in cooperation with Kinstellar is a full-service business law firm in Serbia that provides foreign and domestic clients with premium-quality legal advice and assistance across a wide range of key areas of corporate law. The firm was founded in 2015 by a group of seasoned, internationally-trained lawyers. SOG has developed a distinctively dynamic culture, bringing together top talent, fostering entrepreneurship, and maintaining exceptional relationships with its clients.

SOG has achieved consistent growth in the volume of its business, accompanied by an exponential increase in the number of hired associate lawyers and the firm’s network of business contacts. SOG has a robust client base of multinationals, investment and private equity firms, and financial institutions. Clients praise SOG for being commercially minded, very responsive and knowledgeable.

Establishing permanent cooperation with Kinstellar is part of realising SOG's long-term development strategy to be the leading provider of legal services in the Western Balkans market.

Firm's website: https://www.kinstellar.com/

 

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