Is Crypto Legal in Serbia?
Cryptocurrency is legal but heavily restricted in Serbia. The jurisdiction has a restrictive regime with banking or trading constraints. Securities Commission of the Republic of Serbia is among the 5 regulators with oversight. The FATF Travel Rule is adopted.
Derived from 418 sourced facts for Serbia · last updated · primary sources
Overview
Serbia regulates crypto through a dedicated framework — the Law on Digital Assets (Zakon o digitalnoj imovini, Official Gazette No. 153/2020, effective June 29, 2021) — which defines virtual currencies and digital tokens, and requires licensing for VASPs engaged in exchange, custody, and trading of digital assets. The Securities Commission of the Republic of Serbia oversees VASP licensing, while the National Bank of Serbia supervises AML/CFT compliance; obliged entities must implement KYC, apply the Travel Rule to transfers at or above EUR 1,000 (both cross-border and domestic), segregate client digital assets from proprietary holdings under Article 28(2), maintain secure IT systems, and operate business continuity plans. Enforcement is active, with the NBS pursuing unlicensed operators and authorities prosecuting fraud and money laundering cases involving asset seizure, signaling a credible compliance environment rather than a purely paper regime. (poreskauprava.gov.rs, sec.gov.rs, mup.gov.rs)
Regulatory Bodies
The Council of Europe's "Preventing Money Laundering and Terrorist Financing in Serbia" project, funded by the Swedish International Development Cooperation Agency and the Council of Europe, was signed in December 2019 to support Serbia in…
Securities Commission of the Republic of Serbia (Komisija za hartije od vrednosti - KHOV)
Regulator Name: National Bank of Serbia (NBS)
Serbia is evaluated by MONEYVAL, the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, which is part of the FATF global network.
Administration for the Prevention of Money Laundering (APML - Uprava za sprečavanje pranja novca): The body responsible for supervising AML/CTF compliance.
Regulator Name: Tax Administration of the Republic of Serbia
Operating Models
9/9 verdictsCan specific business models operate in Serbia? Each card answers the operational question for one kind of operator. Curated cells reflect counsel-grade review; AI-generated cells should be confirmed before relying on them.
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AI · UnreviewedPrimary Legislation
| Law / Regulation | Year | Scope |
|---|---|---|
| Overview of Digital Assets Law and NBS role | 2021 | Overview of Digital Assets Law and NBS role: https://www.petosevic.com/resources/news/2021/07/serbia-first-licenses-issued-under-the-digital-assets-law (General context on implementation) |
Licensing Requirements
Official Name: Закон о дигиталној имовини
Published: "Official Gazette of RS", No. 153/2020 (came into effect June 29, 2021)
This law defines digital assets, regulates their issuance and trading, and explicitly designates Virtual Asset Service Providers (VASPs) as obliged entities under the general AML/CFT law. It also sets out the licensing requirements for VASPs.
Law on the Prevention of Money Laundering and Terrorist Financing (Zakon o sprečavanju pranja novca i finansiranja terorizma)
Official Name: Закон о спречавању прања новца и финансирања тероризма
Published: "Official Gazette of RS", No. 113/2017, 91/2019, 153/2020 (last amended)
This is the overarching AML/CFT law in Serbia, applying to all obliged entities, including VASPs. It sets out the general rules for customer due diligence, suspicious transaction reporting, record-keeping, and internal controls.
Exchange between virtual assets and fiat currencies.
Exchange between one or more forms of virtual assets.
Custody and/or administration of virtual assets or instruments enabling control over virtual assets.
Participation in and provision of financial services related to the offer and/or sale of virtual assets (e.g., initial coin offerings - ICOs, initial exchange offerings - IEOs).
For natural persons: Obtain and verify identity based on official documents (e.g., passport, national ID card) including name, surname, address, date and place of birth, and unique identification number.
For legal entities: Obtain and verify identity based on official documents (e.g., excerpt from the company register) including name, registered address, registration number, legal form, details of statutory representatives, and information on the ownership and control structure.
Identify the natural person(s) who ultimately own or control the customer (typically 25% ownership threshold for legal entities) or on whose behalf a transaction is being conducted.
Verify their identity using reliable, independent sources, as per natural person requirements. Serbia also has a Central Register of Beneficial Owners that obliged entities can consult.
Obtain Information on the Purpose and Intended Nature of the Business Relationship: Understand why the customer wants to use the VASP's services.
Scrutinize transactions throughout the course of the relationship to ensure they are consistent with the VASP's knowledge of the customer, their business, and risk profile, including, where necessary, the source of funds.
Regularly update customer information and risk assessments.
Politically Exposed Persons (PEPs): For customers who are PEPs, their family members, or close associates.
High-risk jurisdictions: Customers from countries identified by FATF or other credible sources as having weak AML/CFT regimes.
Complex, unusually large, or unusual patterns of transactions: Those with no apparent economic or lawful purpose.
Non-face-to-face relationships: Unless adequate safeguards are in place.
Transactions involving new or developing technologies: Where the risks are not yet fully understood.
Obtaining additional information on the customer and BO.
Obtaining additional information on the intended nature of the business relationship.
Obtaining information on the source of funds or wealth.
Obtaining approval from senior management to establish or continue the business relationship.
Conducting enhanced ongoing monitoring of the business relationship.
Reporting Obligation: Reports must be submitted without delay, typically within 24-48 hours of forming a suspicion.
No Tipping-Off: VASPs and their employees are prohibited from disclosing to the customer or any third party that a suspicious transaction report has been or will be submitted.
Internal Procedures: VASPs must establish internal policies and procedures for identifying, assessing, and reporting suspicious activities.
Duration: All records must be kept for a minimum of 10 years after the completion of a transaction or the termination of a business relationship.
Accessibility: Records must be maintained in a way that allows them to be retrieved and provided to the competent authorities (FIU, supervisory bodies) without delay upon request.
Administration for the Prevention of Money Laundering (APML - Uprava za sprečavanje pranja novca): The body responsible for supervising AML/CTF compliance.
Role: This is Serbia's Financial Intelligence Unit (FIU) and the central authority for AML/CFT supervision. It oversees compliance with the Law on the Prevention of Money Laundering and Terrorist Financing across all obliged entities, including VASPs. It also receives and analyzes suspicious transaction reports.
URL: https://www.apml.org.rs/ (Official website, primarily in Serbian)
Securities Commission of the Republic of Serbia (Komisija za hartije od vrednosti - KHOV)
Role: Under the Law on Digital Assets, the Securities Commission is responsible for licensing and supervising VASPs, ensuring their adherence to the specific provisions of the digital assets law, including organizational requirements, capital adequacy, and certain aspects of their AML policies as required for licensing.
URL: https://www.sec.gov.rs/ (Official website, available in English)
Regulator Name: National Bank of Serbia (NBS)
Date: Ongoing, particularly since June 2021 when the Digital Assets Law came into full effect. The NBS has issued general warnings and initiated proceedings throughout 2021, 2022, and 2023.
NBS announcement on licensing requirements: https://www.nbs.rs/sr_RS/scripts/showcontent/index.html?id=16265 (Serbian)
Overview of Digital Assets Law and NBS role: https://www.petosevic.com/resources/news/2021/07/serbia-first-licenses-issued-under-the-digital-assets-law (General context on implementation)
Regulator Name: Ministry of Internal Affairs (MUP), Public Prosecutor's Office for Organized Crime
Date: Multiple actions throughout 2021, 2022, and 2023.
November 2021: MUP announced arrests related to the "Infinity Economics" pyramid scheme.
June 2022: MUP announced arrests related to an international scheme involving crypto fraud and money laundering.
Throughout 2022-2023: Various arrests for cybercrime and fraud where cryptocurrencies were used for payments or laundering.
MUP announcement on "Infinity Economics" arrests (November 2021): https://mup.gov.rs/wps/portal/sr/zaMedije/saopstenja/!ut/p/z1/jZDLDoIwEEW_xR-Q1Kk2NmxmExsQERvY3sTGUYqJk6gSfu8sYQ0ddu9w921gRQQG3tE4eT4N3004jL2U-gR7mD-jG8Yg6I-X_A50mQYI0lQyGz37F5eY_Xn6P-Vz1-5Hl-5m_o0pAov6YtX335uGz4C2v1k9Xw2R3c5-L51R8A3M_Yw!!/dz/d5/L2dBISEvZ0FBIS9nQSEh/?id_vesti=306163 (Serbian)
MUP announcement on cybercrime and money laundering arrests (June 2022): https://mup.gov.rs/wps/portal/sr/zaMedije/saopstenja/!ut/p/z1/jZBBD4IwFIV_iX-B5Mv5M2ZlxsSABN42NhMziZNo0CTp35v4HjF02L253HvXgBQQG3lE4-T5dHRfUeXj0EvsYP6MbjEHxX25fG2hZJwk0yGz0bfvHl8A9efov5XPa_nNfRtzh5Rov6YjX1n3_3t7Dk8g6X42R3c5-H51BwA_w_iVfw!!/dz/d5/L2dBISEvZ0FBIS9nQSEh/?id_vesti=313498 (Serbian)
General article on crypto crime in Serbia (mentioning Finiko): https://www.rts.rs/vesti/ekonomija/5081829/kripto-valute-prevare-investicije-srbija.html (Serbian, RTS - Serbian National Broadcaster)
Regulator Name: Tax Administration of the Republic of Serbia
Date: Ongoing, particularly since the Digital Assets Law clarified the tax treatment of crypto assets in 2021.
Tax Administration guidelines on taxing digital assets: https://www.poreskauprava.gov.rs/aktuelnosti/vest%C4%8Di/1103/kako-se-oporezuje-imovinska-dobit-od-prenosa-digitalne-imovine.html (Serbian)
Published in the Official Gazette of the Republic of Serbia No. 115/2020.
Serbian Official Gazette (Sluzbeni glasnik Republike Srbije): https://www.pravno-informacioni-sistem.rs/SIGRID/prikazDokumenta?id=2333 (This link points to the Serbian text on the official legal information system).
The NBS website contains information related to its regulatory role, including decisions and regulations concerning virtual currencies.
Look for sections related to "digital assets," "virtual currencies," or "financial services."
The KHOV website provides information related to digital tokens that fall under its purview.
Relevant sections often cover "digital assets," "issuance of digital tokens," or "investment services."
This law, and its subsequent amendments, apply to VASPs as obliged entities.
Role: Primarily responsible for virtual assets that qualify as "virtual currency" (i.e., payment tokens used as a medium of exchange). The NBS oversees the issuance of virtual currency and related payment services.
Website: Narodna banka Srbije (NBS)
Role: Primarily responsible for "digital tokens" (i.e., investment tokens or other assets representing rights) and the licensing and supervision of Virtual Asset Service Providers (VASPs). This includes crypto exchanges, brokerage firms, and custodians dealing with digital tokens. They also oversee initial offerings of digital tokens (IDOs).
Website: Komisija za hartije od vrednosti (KHOV)
Defines "virtual currency" (e.g., Bitcoin, Ethereum when used for payments) and "digital tokens" (e.g., security tokens, utility tokens representing rights).
Establishes requirements for issuing digital assets (initial offerings).
Mandates licensing for Virtual Asset Service Providers (VASPs), including platforms for trading, exchange, and custody of virtual assets.
Sets forth investor protection measures and rules for advertising virtual assets.
Integrates virtual asset services into the existing AML/CFT framework.
Official Gazette Reference: Službeni glasnik RS, No. 153/2020.
URL (for reference, often hosted by legal information portals): While an official direct government URL might be harder to find for the specific law text in English, the full text is widely available on Serbian legal portals. For example, a common reference: Zakon o digitalnoj imovini (Paragraf.rs) (Note: This link is in Serbian, as it's the official local legal database).
Legal and Regulated: Crypto trading is legal in Serbia. However, activities related to virtual assets, especially those involving offering services to third parties, are highly regulated.
Licensing Required for VASPs: Any entity wishing to operate as a Virtual Asset Service Provider (VASP) – which includes crypto exchanges, broker-dealers, custodians, and platforms for initial offerings – must obtain a license from the Securities Commission (KHOV).
Operational Requirements: Licensed VASPs are subject to stringent operational, capital, organizational, and technological requirements, as well as robust AML/CFT compliance obligations.
Investor Protection: The regulatory framework includes provisions aimed at protecting investors, such as transparency requirements for virtual asset offerings and rules regarding information disclosure.
Trading Platforms: Several domestic exchanges have already received licenses or are in the process of obtaining them, allowing Serbian citizens to legally buy, sell, and exchange virtual assets through regulated entities. For example, ECD.rs and Bitpal are known licensed platforms operating in Serbia.
AML/KYC Requirements
The main preventive law in the AML/CFT area is the Law on the Prevention of Money Laundering and the Financing of Terrorism, published in the Official Gazette of RS, Nos. 113/17 and 91/19 (the "AML/CFT Law"). Laws and regulations - Аdministration for the Prevention of Money Laundering
The AML/CFT Law establishes the Administration for the Prevention of Money Laundering (APML) as the financial intelligence unit (FIU) of the Republic of Serbia. Laws and regulations - Аdministration for the Prevention of Money Laundering
The AML/CFT Law lays down customer due diligence (CDD) requirements that obliged entities are required to apply when establishing and during the course of a business relationship. Laws and regulations - Аdministration for the Prevention of Money Laundering
The AML/CFT Law sets out the responsibilities and powers of the APML and those of other authorities when applying this law. Laws and regulations - Аdministration for the Prevention of Money Laundering
The AML/CFT Law identifies AML/CFT supervisory authorities which examine compliance with this law by obliged entities and stipulates sanctions for non-compliance. Laws and regulations - Аdministration for the Prevention of Money Laundering
Under Article 84 of the AML/CFT Law, the APML is responsible for monitoring the implementation of the AML/CFT Law and using its powers to remove observed irregularities. Laws and regulations - Аdministration for the Prevention of Money Laundering
The APML takes part in the preparation of concept papers aiming to improve the AML/CFT legislative framework and drafts and provides opinions concerning the uniform application of legislation. Laws and regulations - Аdministration for the Prevention of Money Laundering
Serbia is evaluated by MONEYVAL, the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, which is part of the FATF global network. Serbia
A MONEYVAL Mutual Evaluation Report of Serbia was published in 2025, assessing the effectiveness of Serbia's measures against money laundering, terrorist financing, and proliferation financing, based on an on-site visit conducted in May 2025. Serbia
As of March 2024, Serbia had 5 Recommendations rated Compliant and 35 Recommendations rated Largely Compliant in FATF evaluations. Serbia
The Council of Europe's "Preventing Money Laundering and Terrorist Financing in Serbia" project, funded by the Swedish International Development Cooperation Agency and the Council of Europe, was signed in December 2019 to support Serbia in addressing remaining AML/CFT regulatory shortcomings. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
The Council of Europe project aims to develop an effective and sustainable framework for preventing and suppressing money laundering and terrorist financing in Serbia, inclusive of primary and secondary legislation, organisational solutions, and specialisation. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
The AML/CFT Law identifies obliged entities that must comply with customer due diligence requirements, but the available source material does not specify a dedicated crypto-asset or virtual asset service provider licensing regime with capital requirements. Laws and regulations - Аdministration for the Prevention of Money Laundering
The APML is responsible for licensing of compliance officers, as indicated by the dedicated section on its website titled "Licensing of compliance officers." Laws and regulations - Аdministration for the Prevention of Money Laundering
No specific license types, capital requirements, or application timelines for virtual asset service providers are documented in the sources provided. Serbia
The available sources do not confirm that any entities have actually been licensed as virtual asset service providers in Serbia under a dedicated crypto licensing framework. Laws and regulations - Аdministration for the Prevention of Money Laundering
Serbia has made progress in addressing technical compliance shortcomings identified in its 2016 Mutual Evaluation Report, and has specifically improved measures in relation to virtual assets and virtual asset service providers, according to the Council of Europe anti-money laundering body. Serbia improved measures in relation to virtual assets and virtual assets service providers, says Council of Europe anti-money laundering body - Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism - www.coe.int
The AML/CFT Law lays down customer due diligence (CDD) that obliged entities are required to apply when establishing and during the course of a business relationship. Laws and regulations - Аdministration for the Prevention of Money Laundering
The AML/CFT Law sets out the responsibilities and powers of the APML and those of other authorities when applying the law, including AML/CFT supervisory authorities that examine compliance by obliged entities. Laws and regulations - Аdministration for the Prevention of Money Laundering
The AML/CFT Law stipulates sanctions for non-compliance by obliged entities. Laws and regulations - Аdministration for the Prevention of Money Laundering
The APML is responsible for monitoring the implementation of the AML/CFT Law under Article 84 and has the power to remove observed irregularities. Laws and regulations - Аdministration for the Prevention of Money Laundering
The Council of Europe project in Serbia aims to strengthen compliance and oversight of AML/CFT financial and designated non-financial business and professions. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
The project also aims to increase transparency of beneficial ownership information for legal persons and arrangements. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
The AML/CFT Law identifies who files reports to the APML, and the APML provides guidance on how to report suspicious ML/TF activity. Laws and regulations - Аdministration for the Prevention of Money Laundering
The APML has the power to use its authority to remove observed irregularities in the implementation of the AML/CFT Law, though specific cases are not documented in the sources provided. Laws and regulations - Аdministration for the Prevention of Money Laundering
The Council of Europe project in Serbia aims to enhance criminal justice sector processing of money laundering and terrorist financing cases, indicating ongoing efforts to strengthen enforcement capacity. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
The project further aims to strengthen effectiveness in the confiscation of proceeds and instrumentalities of crime. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
No tax guidance has been issued for virtual assets in the sources provided.
The primary AML/CFT law in Serbia does not appear to have been updated to include a comprehensive, dedicated framework for virtual asset service providers within the text available, although MONEYVAL has noted improvements in this area. Serbia improved measures in relation to virtual assets and virtual assets service providers, says Council of Europe anti-money laundering body - Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism - www.coe.int
Serbia has made progress in addressing technical compliance shortcomings but continues to work on strengthening its AML/CFT prevention and enforcement regime with international support. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
The Council of Europe project highlights that Serbia still needs to address AML/CFT regulatory shortcomings, including developing an effective and sustainable framework for preventing and suppressing money laundering and terrorist financing. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
Key areas requiring attention based on the Council of Europe project outcomes include strengthened compliance and oversight of financial and designated non-financial businesses, enhanced non-profit organisation terrorist-financing risk management, and developed risk-based border controls related to cash and goods smuggling. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
There is no evidence in the provided sources of a functioning, publicly documented licensing regime specifically for crypto exchanges or virtual asset service providers, creating regulatory uncertainty for businesses entering the Serbian market. Serbia
The gap between Serbia's paper law and practical implementation remains a risk, as the country continues to work with international partners to strengthen its AML/CFT enforcement regime. Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
Serbia's MONEYVAL mutual evaluation report from 2025 indicates ongoing assessment of effectiveness, suggesting that implementation gaps may still exist despite progress on technical compliance. Serbia
Laws and regulations - Аdministration for the Prevention of Money Laundering
Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int
Serbia improved measures in relation to virtual assets and virtual assets service providers, says Council of Europe anti-money laundering body - Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism - www.coe.int
Serbia's progress in strengthening measures to tackle money laundering and terrorist financing (March 2024)
Travel Rule
Whether Adopted: Yes, adopted. Serbia incorporated the FATF Travel Rule principles into its national legislation, primarily through the Law on Digital Assets (Zakon o digitalnoj imovini). This law specifically designates the National Bank of Serbia (NBS) as the supervisory authority for virtual asset service providers (VASPs) concerning AML/CFT compliance.
Effective Date: The Law on Digital Assets (Zakon o digitalnoj imovini) entered into force on June 29, 2021. The provisions related to AML/CFT, including those implementing the Travel Rule, became effective from this date.
Threshold Amounts: Serbia generally follows the FATF Recommendation 16 for the Travel Rule. This means:
For cross-border transfers of digital assets: The Travel Rule applies to transactions with a value of EUR 1,000 or more.
For domestic transfers of digital assets: The Travel Rule also applies to transactions with a value of EUR 1,000 or more.
The thresholds are typically calculated based on the value of the digital assets at the time of the transaction.
Which VASPs are Covered: The Law on Digital Assets defines and covers a broad range of "providers of services related to digital assets" (VASPs) that are subject to AML/CFT obligations, including the Travel Rule. These typically include, but are not limited to:
Digital asset exchanges (fiat-to-crypto, crypto-to-crypto).
Providers facilitating the transfer of digital assets.
Issuers of digital assets (under certain conditions).
Entities providing services for offering and selling digital assets.
Any other entity conducting activities related to digital assets as defined by the law.
Technical Implementation Requirements: The Serbian legal framework mandates that VASPs must:
Collect and hold required information: This includes accurate and verifiable information about both the originator (sender) and the beneficiary (receiver) of a digital asset transfer.
Originator information: Name, address, official personal document number or customer identification number (if applicable), virtual asset account number (or transaction ID if no account), and sometimes the purpose of the transaction.
Beneficiary information: Name, virtual asset account number (or transaction ID).
Transmit this information: The originator VASP must transmit the required originator and beneficiary information to the beneficiary VASP during or before the transaction.
Receive and hold information: The beneficiary VASP must receive and securely hold the transmitted information.
Screen transactions: Both originator and beneficiary VASPs are expected to screen transactions and involved parties against sanctions lists and for suspicious activity.
Secure Storage: VASPs must establish robust systems for the secure storage of collected data for a period of 5 years, as required by AML/CFT laws.
While the law does not prescribe a specific technical solution (e.g., TRISA, Sygna, Travel Rule Protocol), VASPs are expected to adopt interoperable solutions that enable the secure, real-time, or near-real-time transfer of the required data.
Penalties for Non-Compliance: Non-compliance with AML/CFT obligations, including the Travel Rule, can result in significant penalties, as outlined in the Law on Digital Assets and the general Law on Prevention of Money Laundering and Financing of Terrorism (Zakon o sprečavanju pranja novca i finansiranja terorizma). These penalties can include:
Administrative fines: Substantial monetary fines imposed on legal entities (VASPs) and responsible persons within them.
Revocation of licenses: The National Bank of Serbia has the authority to revoke licenses or permits for VASPs that fail to comply with regulatory requirements.
Prohibition from operating: Temporary or permanent bans on providing digital asset services.
Criminal liability: In cases of severe and intentional breaches, especially those linked to actual money laundering or terrorist financing, individuals involved could face criminal prosecution.
Law on Digital Assets (Zakon o digitalnoj imovini)
Official Gazette: "Službeni glasnik RS", br. 115/2020 i 89/2021 - ispravka
General source (Serbian Parliament): https://www.parlament.gov.rs/upload/documents/2020/26_2020/Zakon%20o%20digitalnoj%20imovini.pdf (Note: This links to the initial version, amendments may exist)
Law on Prevention of Money Laundering and Financing of Terrorism (Zakon o sprečavanju pranja novca i finansiranja terorizma)
General source (Ministry of Finance - Administration for the Prevention of Money Laundering): https://www.apml.org.rs/zakoni-i-propisi/ (You'd need to navigate to find the latest consolidated version)
National Bank of Serbia (NBS) Regulations and Decisions: The NBS issues detailed regulations and decisions to implement the Law on Digital Assets, particularly regarding VASP licensing, supervision, and AML/CFT compliance. These can be found on the official NBS website:
NBS Official Website (Laws and Regulations - Digital Assets): https://www.nbs.rs/sr_RS/scripts/showContent/index.html?id=16023 (This page provides links to relevant NBS decisions and instructions related to digital assets.)
Tax Reporting
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Custody Requirements
Licensing Authority: The Law on Digital Assets designates two main regulators, depending on the nature of the digital asset:
The National Bank of Serbia (NBS) supervises banks and financial institutions, but the regulation of virtual assets as means of payment is governed by the Law on Digital Assets, which establishes a separate regulatory framework from the NBS’s traditional supervision of payment systems.
The Securities Commission (SC) supervises digital assets that qualify as financial instruments (e.g., security tokens, certain stablecoins).
A legal entity providing services related to digital assets must obtain a license from the relevant authority. If a VASP intends to provide services for both types of digital assets, it might require licenses from both regulators or a combined license if stipulated.
Eligible Entities: Only legal entities registered in Serbia can apply for a VASP license. Foreign entities cannot directly provide services without establishing a Serbian legal entity.
Licensable Activities (including custody): The law defines "virtual asset services" that require a license, including:
Receipt, transfer, and execution of orders related to digital assets.
Exchange of digital assets for fiat currency.
Exchange of digital assets for other digital assets.
Safekeeping and administration of digital assets on behalf of clients (custody).
Advisory services related to digital assets.
Key Licensing Requirements: Applicants must meet stringent conditions, including:
Minimum Capital: Specified in regulations issued by the NBS or SC (e.g., minimum share capital requirements).
Management & Ownership: Fit and proper test for management and significant shareholders, demonstrating professional competence, reputation, and absence of criminal records.
Internal Controls: Robust internal procedures, risk management systems, IT security, and business continuity plans.
Serbia has made strides in risk assessment and prosecution under its AML/CFT framework, but further steps are needed in supervision and effective use of financial intelligence, indicating partial rather than strict adherence to all AML/CFT regulations.
Operational Requirements: Technical and organizational capabilities to securely provide the services.
The Law on Digital Assets mandates the segregation of client assets.
Article 28(2) of the Law on Digital Assets states that a virtual asset service provider must "take all necessary measures for the safekeeping of digital assets of its clients, including the segregation of clients' digital assets from its own digital assets."
This means that client digital assets must be held in separate accounts or wallets distinct from the VASP's proprietary assets to protect clients in case of the VASP's insolvency or bankruptcy.
The Law on Digital Assets generally requires VASPs to have adequate capital and organizational structures to ensure the secure provision of services.
While the primary law doesn't explicitly mandate professional indemnity insurance or specific bonding requirements in detail, it empowers the NBS and SC to prescribe more specific conditions through secondary legislation.
Article 16 of the Law gives the regulators the power to prescribe "detailed conditions and method of obtaining and revoking licenses" which can include financial guarantees, insurance, or higher capital requirements depending on the nature and scale of the services.
It's generally expected that a VASP will have sufficient financial resources to cover potential liabilities, which may implicitly require a form of financial security.
The Law on Digital Assets emphasizes the importance of secure storage but does not explicitly mandate "cold storage" as a specific technical requirement in the primary law.
Article 28(2) requires VASPs providing custody services to "take all necessary measures for the safekeeping of digital assets," ensure "secure IT systems," and have a "business continuity plan."
This implies that robust security measures, including best practices like multi-signature wallets, hardware security modules (HSMs), and offline (cold) storage for a significant portion of assets, would be considered essential for meeting the "secure IT systems" and "safekeeping" requirements. The regulators (NBS/SC) would likely expect custodians to implement industry-standard security practices, which heavily favor cold storage for large reserves.
Detailed technical specifications are typically elaborated in subsidiary legislation or guidelines issued by the NBS or SC.
In Serbia, a "qualified custodian" is essentially a legal entity that has obtained the necessary VASP license from the National Bank of Serbia or the Securities Commission to provide safekeeping and administration of digital assets on behalf of clients.
The definition is tied to the licensing process and the entity meeting all the stringent requirements (capital, management, internal controls, AML/CFT, etc.) outlined in the Law on Digital Assets and subsequent regulations.
There are no specific additional "qualified" custodian categories like traditional banks or trust companies unless those institutions also separately obtain the VASP license for digital asset custody.
As an EU candidate country, Serbia is committed to harmonizing its legislation with EU law.
The most significant upcoming development in this regard is the EU's Markets in Crypto-Assets (MiCA) Regulation. MiCA will introduce a comprehensive, harmonized regulatory framework for crypto-asset service providers (CASPs), including custodians, across the European Union.
While Serbia's Law on Digital Assets already incorporates many principles similar to MiCA (e.g., licensing, AML/CFT, consumer protection, segregation of assets), a full adoption of MiCA or an equivalent national law would lead to:
More detailed and prescriptive rules regarding operational requirements, governance, client safeguarding, and potentially specific technical standards for custody.
Passporting Rights: Once Serbia fully adopts MiCA (likely upon or before EU accession), Serbian licensed CASPs could potentially offer services across the EU, and vice versa.
Refinement of Definitions: Alignment with MiCA's definitions of crypto-assets and services.
The timeline for Serbia's full alignment with MiCA will depend on its EU accession progress and its legislative agenda. It is highly probable that Serbia will amend or replace its current Law on Digital Assets to fully align with MiCA in the coming years.
Law on Digital Assets (Zakon o digitalnoj imovini)
English Summary/Analysis (Reputable Law Firm):
Official website, typically under sections related to payment systems, financial services, or specific regulations. You may need to navigate their site for specific decisions or regulations related to VASPs: https://www.nbs.rs/
Securities Commission (Komisija za hartije od vrednosti)
Official website, with sections for digital assets and licensing: https://www.sec.gov.rs/
Stablecoin Regulation
Stablecoin regulation data collection in progress.
Securities Classification
Serbia has a functional legal framework for digital assets, with the Law on Digital Assets establishing a bifurcated regulatory regime: the Securities Commission of the Republic of Serbia regulates digital tokens, while the National Bank of Serbia regulates virtual currencies. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
Licensing is mandatory for service providers dealing with digital tokens, and the Securities Commission has actually granted licenses—two companies received licenses in March 2023 for services including order execution, exchange, custody, and portfolio management of digital tokens. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
The capital market legal framework is anchored in the Capital Market Law (Official Gazette of the Republic of Serbia, Nos. 129/2021 and 109/2025), with the Securities Commission as the primary regulator. Securities Commission adopts the Rulebook on tied agents
The practical reality is that digital token regulation is operational but still developing, with the Securities Commission actively issuing investor guidance, adopting implementing rulebooks, and participating in international cooperation through IOSCO and Moneyval. Securities Commission of the Republic of Serbia
For entities that issue digital tokens with securities characteristics, or provide services around them, obtaining a license from the Securities Commission is a real, viable path rather than theoretical—two licenses have already been granted as of March 2023. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
The Securities Commission of the Republic of Serbia (Commission/Komisija za hartije od vrednosti) is the independent and autonomous regulatory authority responsible for the Republic of Serbia capital market, headquartered in Belgrade at 1 Omladinskih brigada Street. About Us
The Commission is a legal entity that operates as an independent and autonomous organization of the Republic of Serbia, accountable to the Assembly (National Assembly) of the Republic of Serbia. About Us
The Commission is comprised of a Chairman and three Commissioners, all appointed by the National Assembly of the Republic of Serbia as full-time employees; the current X term of office took duties on 24 November 2021, led by Chairman Marko Janković. About Us
The Commission's internal organization includes: Department for Securities and Public Company Register, Market Participants Department, Supervision Department, Legal Affairs Department, IT Department, International Cooperation and Development Department, Financial Affairs Service, and Quality Assurance Review Department. About Us
The National Bank of Serbia shares jurisdiction in the digital assets space—the Commission has authority over digital tokens, while the National Bank of Serbia regulates virtual currencies. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
The Law on Digital Assets (Law on Digital Property) is the primary legislation governing digital tokens and virtual currencies in Serbia, and it prescribes the activities requiring licensing under Article 3, paragraph 1. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
The Capital Market Law (Official Gazette of the Republic of Serbia, Nos. 129/2021 and 109/2025) is the principal legislation governing the capital market; the Rulebook on Tied Agents was adopted pursuant to this law at the 139th session of the 10th term of office on 21 May 2026. Securities Commission adopts the Rulebook on tied agents
The Commission's competencies are set forth in the Law on the Capital Market (Official Gazette of RS No 31/2011), the Law on Takeover of Joint Stock Companies (Official Gazette of RS No 46/2006 and 107/2009), and the Law on Prevention of Money Laundering and Terrorism Financing (Official Gazette of RS No 20/2009 and 72/2009). About Us
The Commission carries out its activities in accordance with international rules and principles of the International Organization of Securities Commissions (IOSCO). About Us
The Commission cooperates with and is a participant in IOSCO (International Organization of Securities Commissions). Securities Commission of the Republic of Serbia
The Commission maintains formal cooperation with Moneyval, the Council of Europe's anti-money laundering monitoring body. Securities Commission of the Republic of Serbia
The MONEYVAL report confirms Serbia's progress and highlights the role of the capital markets regulator in the anti-money laundering/counter-terrorist financing framework. Securities Commission of the Republic of Serbia
The Commission actively works on aligning the Capital Market Regulations of the Republic of Serbia with relevant EU legislation, as demonstrated by dedicated workshops on this topic. Securities Commission of the Republic of Serbia
The Securities Commission is a signatory to the international Administrative arrangement on the transfer of personal data. Securities Commission of the Republic of Serbia
Any business company seeking to provide services related to digital tokens must obtain a license from the Securities Commission of the Republic of Serbia. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
The following activities, prescribed by Article 3, paragraph 1, points 1) through 4) of the Law on Digital Assets, require licensing: (1) receipt, transfer and execution of orders related to the purchase and sale of digital tokens for the account of third parties; (2) services of buying and selling digital tokens for cash and/or account funds and/or electronic money; (3) services of exchange of digital tokens for other digital assets; (4) storage and administration of digital tokens for the account of users of digital tokens and related services. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
A fifth licensable service, digital token portfolio management, is also prescribed under Article 3, paragraph 1 of the Law on Digital Assets. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
The Commission also licenses brokers, portfolio managers, and investment advisers, organizing classes and exams for these titles, which would apply to professionals dealing with digital tokens as financial instruments. About Us
Competence for decision-making in administrative procedures and supervision in the field of digital assets is divided between the Securities Commission and the National Bank of Serbia. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
The National Bank of Serbia has jurisdiction over virtual currencies; the Commission has jurisdiction over digital tokens. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
In cases where a digital asset has characteristics of both a virtual currency and a digital token, or where a provider of services related to digital assets (PUDI) provides services related to both virtual currencies and digital tokens, both the Securities Commission and the National Bank of Serbia have jurisdiction. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
Two licenses have actually been granted. On Friday, 17 March 2023, at the 44th session of the X convocation, the Securities Commission approved the requests of two business companies for licenses to provide services related to digital tokens. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
MCM 965 D.O.O. Belgrade received a license for the following services: (1) receipt, transfer and execution of orders related to the purchase and sale of digital tokens for the account of third parties; (2) services of buying and selling digital tokens for cash and/or account funds and/or electronic money; (3) services of exchange of digital tokens for other digital assets; (4) storage and administration of digital tokens for the account of users of digital tokens and related services. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
VESCON DOO Belgrade-Savski Venac received a license for the same four services plus (5) digital token portfolio management. [Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens](https://www.sec.gov.rs/index.php/en/news/actual/820-securities-commission-of-the-republic-of-serbia-issued-two-licences-to-service-providers-related-to-digital-tokens]
The Commission maintains registers of licensed entities and individuals, including a Register of Licensed Brokers, indicating an operational licensing system. Register of Licensed Brokers
The Commission is authorized to grant licenses to investment companies, license the market operator, and deny, withdraw, and suspend licenses. About Us
The Commission approves changes in general enactments, acquisition of qualified participation, and grants prior approval to the appointment of directors of the market operator, investment firms, and the Central Securities Depository. About Us
The Commission has adopted a Rulebook on granting a license for performing the activities of an investment firm, which would govern licensing procedures. Securities Commission of the Republic of Serbia
The Commission also has a Rulebook on granting authorization for the provision of the Approved Publication Arrangement (APA) Service, organizational requirements, and data publications. Securities Commission of the Republic of Serbia
The Commission adopted the Rulebook on Tied Agents at its 139th session on 21 May 2026, pursuant to the Capital Market Law, regulating the activities of tied agents in the capital market. Securities Commission adopts the Rulebook on tied agents
The Commission approves public offerings for which a prospectus is required to be published and admission to trading of financial instruments, including digital tokens that qualify as financial instruments. About Us
The Commission approves exempt offerings and exempt admissions to trading of financial instruments for which Commission approval is authorized under Chapter III of the Law. About Us
The Securities Commission exercises authority and powers regarding the manner of exercising supervision and general authorities in enforcement of supervision over compliance with the Law on Prevention of Money Laundering and Terrorism Financing (Official Gazette of RS No 20/2009 and 72/2009). About Us
The Commission supervises, undertakes, and controls implementation of measures and sanctions regarding implementation of the law regulating prevention of money laundering and terrorism financing. About Us
The Commission monitors compliance with provisions and violations of the laws, general enactments of the Commission, and general enactments of the market operator, investment firms, and the Central Securities Depository. About Us
The Commission organizes and participates in workshops on anti-money laundering topics, including a workshop titled "New Faces of Financial Crime – Money Laundering, Terrorist Financing and Proliferation in the Capital Market" organized with the OSCE Mission to Serbia. Securities Commission of the Republic of Serbia
The MONEYVAL report confirms Serbia's progress in AML/CFT and highlights the role of the capital markets regulator in this area. Securities Commission of the Republic of Serbia
The Commission has the authority to deny, withdraw, and suspend licenses of investment companies and market operators. About Us
The Commission issued a public "Warning of the Commission about internet and social media fraud," alerting investors to fraudulent schemes conducted through digital channels. Securities Commission of the Republic of Serbia
The Commission participates in an international platform for verifying unauthorized investment firms, indicating active cross-border cooperation on enforcement. Securities Commission of the Republic of Serbia
The Commission has a dedicated section for "Public Censure" under its Implementation regulations, indicating this is a formal enforcement tool used by the regulator. Securities Commission of the Republic of Serbia
The Commission may institute and conduct court proceedings in order to protect the interests of investors in financial instruments and of other entities for which it determines that certain rights or interests have been violated in connection with transactions involving financial instruments. About Us
The Commission organizes, undertakes, and controls implementation of measures and sanctions that ensure the fair, orderly, and efficient functioning of the regulated market and/or MTF (Multilateral Trading Facility) with a view to minimizing market disturbances and ensuring protection of investors. About Us
The research materials provided do not contain specific tax guidance for virtual assets or digital tokens in Serbia.
No tax guidance has been issued for virtual assets in the sources reviewed; specific tax treatment for digital tokens and virtual currencies is not addressed in the Securities Commission's published materials provided.
The Commission's regulatory mandate covers capital market supervision and licensing rather than tax administration; tax matters in Serbia fall under the purview of the Ministry of Finance and the Tax Administration, which are not addressed in the provided sources.
The Securities Commission's published investor guide for digital tokens focuses on white papers, investor rights, and investment risks rather than tax implications. Securities Commission of the Republic of Serbia
Regulatory fragmentation risk: The division of jurisdiction between the Securities Commission (digital tokens) and the National Bank of Serbia (virtual currencies) creates ambiguity, particularly for hybrid digital assets that have characteristics of both; in such cases both regulators have jurisdiction, potentially creating compliance complexity for businesses. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
Limited licensing track record: Only two licenses have been granted to digital token service providers since the framework became operational (March 2023), indicating a very early-stage market with limited regulatory precedent. Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
Evolving secondary legislation: The regulatory framework is still being built out, with new rulebooks being adopted as recently as May 2026 (Rulebook on Tied Agents), meaning the full regulatory picture is still evolving and businesses face compliance uncertainty as new rules emerge. Securities Commission adopts the Rulebook on tied agents
Investor protection concerns: The Commission has found it necessary to issue warnings about internet and social media fraud, indicating active fraud risks in the digital asset space that businesses must navigate carefully to maintain regulatory compliance and reputational integrity. Securities Commission of the Republic of Serbia
EU alignment pressure: The Commission is actively working to align Serbian capital market regulations with relevant EU legislation, meaning digital asset businesses face the risk of future regulatory changes as Serbia moves toward EU harmonization. Securities Commission of the Republic of Serbia
Information asymmetry for investors: The Commission published an Informative Guide for Investors Before Investing in Digital Tokens in August 2026, explaining white papers, approval meaning, investor rights, and key risks—indicating that investor understanding remains a challenge requiring regulatory education efforts. Securities Commission of the Republic of Serbia
Limited examiner capacity: The Commission's organizational structure includes a single Supervision Department responsible for overseeing all market participants, which may face resource constraints in effectively supervising a growing digital asset sector. About Us
Unclear securities classification: The distinction between digital tokens that constitute financial instruments (falling under capital market rules) and those that do not remains a critical classification issue; the Commission must approve prospectuses and admissions to trading for financial instruments, but the boundary between digital tokens as securities versus other categories requires case-by-case determination. About Us
Securities Commission of the Republic of Serbia - Home
Securities Commission of the Republic of Serbia - Content
Securities Commission of the Republic of Serbia issued two licences to service providers related to digital tokens
About Us - Legal Position, Powers and Authorities
Sanctions & Restrictions
Sanctions data collection in progress.
Enforcement Actions
Entity Targeted: Various domestic entities and individuals operating crypto asset exchange or custody services without the required licenses. While specific names are not always publicly disclosed with detailed penalties, the NBS has consistently emphasized its licensing requirements and taken steps against non-compliant entities. Violation Type: Operating a virtual asset service provider (VASP) without obtaining the necessary operating license from the NBS, as mandated by the Digital Assets Law. This includes facilitating the exchange of virtual assets for fiat currency or other virtual assets, or providing custody services. Penalty Amount: Administrative fines, cessation of operations. The Digital Assets Law (Article 109, Paragraph 1, Point 1 and 2) prescribes fines ranging from RSD 100,000 to RSD 5,000,000 for legal entities and RSD 10,000 to RSD 500,000 for responsible persons within the legal entity, along with potential protective measures like a ban on conducting business. Outcome: Several entities have either ceased operations, come into compliance, or faced administrative proceedings. The NBS continues to monitor the market for unlicensed activity.
Entity Targeted: Individuals and organized criminal groups involved in large-scale crypto Ponzi schemes, investment fraud, and money laundering using virtual assets. Examples include actions related to the "Infinity Economics" scheme and connections to other global crypto scams like "Finiko.". Violation Type: Fraud, money laundering, unauthorized organization of games of chance (depending on the nature of the scheme), cybercrime. These often fall under general criminal statutes rather than specific "crypto violations.". Penalty Amount: Arrests, pre-trial detention, asset freezes (including virtual assets), criminal charges leading to potential prison sentences if convicted. Specific final conviction penalties (amounts/sentences) are rarely publicly detailed for each individual case by Serbian authorities, especially if investigations are ongoing or multi-jurisdictional. Outcome: Numerous arrests have been made, leading to ongoing investigations, indictments, and trials. Assets, including cryptocurrencies, have been seized. These cases are often complex and lengthy.
Entity Targeted: Individuals and legal entities earning income from digital assets (e.g., capital gains from crypto trading, income from mining, staking, or providing crypto services). Violation Type: Tax evasion related to income or capital gains derived from digital assets. Penalty Amount: Varies significantly based on the amount of unpaid tax, plus interest and potential fines as per tax laws. Outcome: Increased tax compliance, with individuals and entities reporting and paying taxes on their crypto gains. Audits and enforcement actions against non-compliant taxpayers are conducted, though details are private unless criminal charges are filed.
Outcome: Several entities have either ceased operations, come into compliance, or faced administrative proceedings. The NBS continues to monitor the market for unlicensed activity.
Outcome: Numerous arrests have been made, leading to ongoing investigations, indictments, and trials. Assets, including cryptocurrencies, have been seized. These cases are often complex and lengthy.
Outcome: Increased tax compliance, with individuals and entities reporting and paying taxes on their crypto gains. Audits and enforcement actions against non-compliant taxpayers are conducted, though details are private unless criminal charges are filed.
Research & Articles
Regulatory Forecast
high confidenceLikely enforcement action expected around 2026-08-29
Based on 39 historical regulatory events for Serbia, averaging every 48 days, with increasing regulatory activity.
Recent Updates
Licensable Activities (including custody): The law defines "virtual asset services" that require a license, inclu...
Licensable Activities (including custody): The law defines "virtual asset services" that require a license, including:
This means that client digital assets must be held in separate accounts or wallets distinct from the VASP's proprieta...
This means that client digital assets must be held in separate accounts or wallets distinct from the VASP's proprietary assets to protect clients in case of the VASP's insolvency or bankruptcy.
Detailed technical specifications are typically elaborated in subsidiary legislation or guidelines issued by the NBS ...
Detailed technical specifications are typically elaborated in subsidiary legislation or guidelines issued by the NBS or SC.
In Serbia, a "qualified custodian" is essentially a legal entity that has obtained the necessary VASP license from ...
In Serbia, a "qualified custodian" is essentially a legal entity that has obtained the necessary VASP license from the National Bank of Serbia or the Securities Commission to provide safekeeping and administration of digital assets on behalf of clients.
There are no specific additional "qualified" custodian categories like traditional banks or trust companies unless th...
There are no specific additional "qualified" custodian categories like traditional banks or trust companies unless those institutions also separately obtain the VASP license for digital asset custody.
The most significant upcoming development in this regard is the EU's Markets in Crypto-Assets (MiCA) Regulation. ...
The most significant upcoming development in this regard is the EU's Markets in Crypto-Assets (MiCA) Regulation. MiCA will introduce a comprehensive, harmonized regulatory framework for crypto-asset service providers (CASPs), including custodians, across the European Union.
Regulator Name: National Bank of Serbia (NBS)
Regulator Name: National Bank of Serbia (NBS)
Investment Tokens: Any digital token explicitly designed and defined to represent a transferable security (like a...
Investment Tokens: Any digital token explicitly designed and defined to represent a transferable security (like a share) or another financial instrument (like a bond, a unit in an investment fund, or a derivative). These are directly financial instruments under Serbian law.
Virtual Currencies: As defined, these are primarily for payment and are explicitly excluded from being financial ...
Virtual Currencies: As defined, these are primarily for payment and are explicitly excluded from being financial instruments.
National Bank of Serbia (Narodna banka Srbije - NBS): Primarily responsible for virtual currencies and payment se...
National Bank of Serbia (Narodna banka Srbije - NBS): Primarily responsible for virtual currencies and payment services related to digital assets.
Investor Protection: The regulatory framework includes provisions aimed at protecting investors, such as transpar...
Investor Protection: The regulatory framework includes provisions aimed at protecting investors, such as transparency requirements for virtual asset offerings and rules regarding information disclosure.
Law on Digital Assets (Zakon o digitalnoj imovini): While a direct link to the consolidated text on a government ...
Law on Digital Assets (Zakon o digitalnoj imovini): While a direct link to the consolidated text on a government portal can be elusive, the Serbian National Bank often provides information related to its scope. You can usually find the law's text on legal information portals or the Official Gazette website (e.g., Pravno-informacioni sistem Republike Srbije - PIS RS), but these require subscription or specific searches.
Whether Adopted: Yes, adopted. Serbia incorporated the FATF Travel Rule principles into its national legislat...
Whether Adopted: Yes, adopted. Serbia incorporated the FATF Travel Rule principles into its national legislation, primarily through the Law on Digital Assets (Zakon o digitalnoj imovini). This law specifically designates the National Bank of Serbia (NBS) as the supervisory authority for virtual asset service providers (VASPs) concerning AML/CFT compliance.
Effective Date: The Law on Digital Assets (Zakon o digitalnoj imovini) entered into force on June 29, 2021. T...
Effective Date: The Law on Digital Assets (Zakon o digitalnoj imovini) entered into force on June 29, 2021. The provisions related to AML/CFT, including those implementing the Travel Rule, became effective from this date.
Which VASPs are Covered: The Law on Digital Assets defines and covers a broad range of "providers of services rel...
Which VASPs are Covered: The Law on Digital Assets defines and covers a broad range of "providers of services related to digital assets" (VASPs) that are subject to AML/CFT obligations, including the Travel Rule. These typically include, but are not limited to:
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