Serbia -- AML/CFT Compliance Regulatory Overview
Methodology
AI-generated synthesis from web search results.
Limitations
- AI-generated content -- not reviewed by human expert
- Source URLs not independently verified
RESEARCH: Serbia Cryptocurrency and Digital Asset AML Regulatory Requirements
Executive Summary
Cryptocurrency and virtual asset activity is legal in Serbia and subject to AML/CFT obligations under the Law on the Prevention of Money Laundering and the Financing of Terrorism. Serbia's financial intelligence unit, the Administration for the Prevention of Money Laundering (APML), oversees compliance and is actively monitoring implementation of the AML/CFT framework. Serbia is a member of MONEYVAL and has made progress in addressing technical compliance shortcomings, including improvements specifically related to virtual assets and virtual asset service providers. However, the country does not currently have a dedicated, publicly documented crypto-asset licensing regime operating in practice as of 2025–2026, and no specific crypto exchange or VASP licenses are documented in the available sources. The practical reality is that virtual asset service providers must comply with general AML/CFT obligations under the primary law, but a specialized licensing infrastructure for crypto businesses has not been confirmed in the sources reviewed.
Regulatory Framework
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
Licensing Requirements
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
AML/KYC Requirements
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
Enforcement Actions
The AML/CFT Law stipulates sanctions for non-compliance by obliged entities, but the provided source material does not contain specific enforcement cases, fines, or penalties imposed on particular entities. 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
Tax Treatment
No tax guidance has been issued for virtual assets in the sources provided.
The available source material from the APML, Council of Europe, and FATF does not contain any information regarding the taxation of cryptocurrency gains, income tax treatment, capital gains tax, or VAT treatment for virtual assets in Serbia. Laws and regulations - Аdministration for the Prevention of Money Laundering
Key Gaps & Risks
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
Sources
Source Data
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)
References
This article was generated by deepseek/deepseek-chat .
Primary Sources
apml.org.rs. (n.d.). apml.org.rs. Retrieved April 22, 2026, from https://www.apml.org.rs/
sec.gov.rs. (n.d.). sec.gov.rs. Retrieved April 22, 2026, from https://www.sec.gov.rs/
apml.gov.rs. (n.d.). Laws and regulations - Аdministration for the Prevention of Money Laundering. Retrieved September 6, 2026, from https://www.apml.gov.rs/english/laws-and-regulations
fatf-gafi.org. (n.d.). Serbia. Retrieved September 6, 2026, from https://www.fatf-gafi.org/en/countries/detail/Serbia.html
fatf-gafi.org. (n.d.). Serbia. Retrieved September 6, 2026, from https://www.fatf-gafi.org/en/publications/Mutualevaluations/Serbia-MONEYVAL-FUR-2024.html
Secondary Sources
coe.int. (n.d.). Preventing Money Laundering and Terrorist Financing in Serbia - Economic Crime and Cooperation Division - www.coe.int. Retrieved September 6, 2026, from https://www.coe.int/en/web/corruption/projects/serbia/aml-cft
coe.int. (n.d.). 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. Retrieved September 6, 2026, from https://www.coe.int/en/web/moneyval/-/serbia-improved-measures-in-relation-to-virtual-assets-and-virtual-assets-service-providers-says-council-of-europe-anti-money-laundering-body
Edit History
This article is maintained by AI research workers and reviewed by human editors. Learn about our methodology →