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Crypto Owners in Serbia Reach 200,000 as the Country Regulates Digital Assets – – Crypto News

The number of holders of cryptocurrencies in Serbia has risen to around 200,000, with interest in cryptocurrencies increasing in parallel with the growing crypto markets. The country’s decision to legally recognize digital assets this year has also contributed to its growing popularity.

Digital Assets Act puts Serbia on the crypto map

Recently passed regulations and genuine investor interest have made Serbia, a nation of 7 million people in southeastern Europe, one of the countries that consider cryptocurrencies to be a thing of the present. About 200,000 Serbs now own a coin or other local media reported and cited the latest estimates from the crypto industry.

The Serbian Law on Digital Assets came into force at the end of June this year. The legislation recognizes cryptocurrencies like Bitcoin as virtual assets. They define its terms as digital records of value that can be bought, sold, transferred and exchanged. The number of Serbs owning cryptos has increased since its inception, business news portal Ekapija noted in a report.

“This year we have seen serious growth in buying and selling cryptocurrencies every month,” said Marko Zivkovic, marketing director of the ECD crypto exchange, told Tanjug news agency. “The market in Serbia is definitely growing and we are not lagging behind some of the developed world markets,” the executive emphasized.

The crypto trading platform operates on a temporary basis that allows it to offer users the ability to buy and sell coins. It expects permanent approval from the Serbian National Bank (NBS) in the first few months of the next year. Zivkovic points out that once fully licensed, the exchange can also process crypto payments for goods and services.

The economist Malisa Djukic pointed to the significant increase in the capitalization of the global crypto market in the last two to three years and commented that the interest in cryptocurrencies among small and large investors is undoubtedly increasing. The same applies to the number and value of crypto transactions, he added.

Regarding the interest in crypto trading in Serbia, a similar observation can be made, noted Djukic, emphasizing that the passage of laws treating cryptocurrencies as assets has supported the trend. He stated that the law created a legal basis that would allow companies to post crypto funds on their balance sheets and to report gains or losses from related operations. It has also enabled the government to tax crypto investments.

Regarding the adoption of cryptocurrencies, Serbia has a lot to do to catch up with the regional leaders, two other former Yugoslav republics. ONE report Last year it revealed that Bitcoin-friendly Slovenia has over 1,000 locations that accept various digital currencies. Crypto payments are also spreading in neighboring Croatia, where a leading Supermarket chain now accepts nine coins in his online shop.

Do you expect Serbia to become the next crypto hotspot in Southeast Europe? Let us know in the comments section below.

Lubomir Tassev

Lubomir Tassev is a tech-savvy journalist from Eastern Europe who likes Hitchens’ quote: “Being a writer is what I am and not what I do.” In addition to crypto, blockchain and fintech, international politics and economics are two more Sources of inspiration.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Source: Crypto News Austria

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