Three crypto exchanges have applied for a license in Serbia, which recently passed laws regulating their digital asset space. The government in Belgrade expects the companies to receive approval within weeks and allow Serbs to legally buy and sell cryptocurrencies.
Crypto trading platforms and token issuers apply for licenses in Serbia
The authorities in Serbia are currently examining license applications from three crypto exchange offices, the country’s finance minister Sinisa Mali told parliament this week, local media reported. Quoted by the Tanjug news agency, the official stated:
I assume that we will be issuing the first licenses in the next few weeks – that is very important to us.
In response to questions from the legislature, Mali also announced that four issuers of digital tokens have already paid the application fees. The minister emphasized that Serbia was one of the first countries to regulate this area by law. Slowly but surely, he added, the market for cryptocurrencies and digital tokens is also developing.
Mali also announced that Serbia is developing its own token trading platform, which is expected to start as early as next year. He also said the government was working hard to develop a growth strategy for the Belgrade Stock Exchange, which he called “the right instrument to support the development of our financial market”.
Serbian law on digital assets came into force at the end of June this year. The legislation defines cryptocurrencies like Bitcoin as virtual assets and digital records of value that can be bought, sold, transferred and exchanged.
The number of Serbs owning digital currencies has increased significantly since then. A recent media report quotes estimates by representatives of the crypto industry. specified that meanwhile around 200,000 inhabitants of the south-east European country own a coin or another.
Growing investor interest and government regulatory efforts are bringing Serbia closer to regional leaders regarding the adoption of crypto. Supermarkets, Gas stations and other Merchants in neighboring Croatia now accept various crypto currencies. Slovenia, another former Yugoslav republic, has over 1,000 locations Support Bitcoin payments while Ljubljana authorities take steps to simplify Tax regime for crypto assets.
Do you think Serbia will quickly catch up with the leaders of the region when it comes to adopting cryptocurrencies? Do share your expectations in the comments section below.
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Source: Crypto News Austria