The Serbian government is improving the environment for the cryptocurrency industry, as evidenced by the latest law that has entered into force these days.
With the growing interest in cryptocurrencies, almost all countries in the world face the issue of legalization and regulatory frameworks. Apart from Russia, which will introduce a new law on digital assets as early as January 2021, or India, which wants to tax cryptocurrencies, we have another country here, which is Serbia.
The Serbian government presented a bill on digital assets in October, which was subsequently adopted in late November and entered into force on 29 December. From now on, all stakeholders can legally operate services related to cryptocurrencies and their trading.
The supervisors of the local digital asset industry, the Securities Commission and the National Bank of Serbia (NBS), are stricter when it comes to digital currency exchanges, and companies that want to issue digital tokens will find it a little easier.
All crypto exchanges will first have to obtain a license in order to carry out such activities in this territory.
Companies that want to issue digital tokens have the choice to either obtain official approval or remain without consent and will have certain restrictions on advertising or distribution to the people of Serbia.
According to the daily Finance Magnates, the law also enables the secondary market trading of Serbian digital currencies, over-the-counter (OTC) trading and the use of smart contracts in trading.
Crypto Entities wishing to operate in the territory of Serbia must also submit a formal application within six months from the date of entry according to law.
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