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Serbia is Step Closer Towards Regulating Blockchain Technology and Cryptocurrencies

Serbia is Step Closer Towards Regulating Blockchain Technology and Cryptocurrencies

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Serbian Chamber of Commerce has announced that the working group for drafting a proposal for legal framework to govern blockchain technology and trading with cryptocurrencies has been established.

The working group is comprised of the representatives of the Chamber of Commerce of Serbia, National Bank of Serbia, Ministry of Finance, Belgrade Stock Exchange, and the Government.

Within the next 6 months, the working group would draw up a document to be used as the base on which the future law governing blockchain technology and trading with cryptocurrencies could be drafted.

Currently, in Serbia, there is no regulation specifically regulating blockchain technology and cryptocurrencies. General laws governing the capital market, foreign exchange, anti-money laundering, payment services, tax, etc. are applicable to the blockchain technology and cryptocurrencies as well.

Up until now, the Securities Exchange Commission issued a warning notice to investors in crypto assets, as well as a public call for consultation on the regulation of crypto assets in 2019.

By Aleksandar Popovic, Senior Associate, JPM Jankovic Popovic Mitic

JPM Partners at a Glance

We are a full service commercial law firm in Serbia, with over 30 years of successful practice in SEE region and true and lasting partnerships with our clients.

Our diverse teams of lawyers are focused on practice in specific legal areas, handling some of the most high-profile multijurisdictional matters in energy, project development, mining, foreign investments, corporate and commercial. We are highly sought-after for legal advice in creative industries, environmental law and white-collar crime, as well as intellectual property, international arbitration, labor and data protection

As an exclusive member of Lex Mundi – the world’s premiere network of leading independent law firms, we interconnect and reach globally. Regionally, we advise clients in Montenegro directly, through well established partnership with ‘JPM Montenegro Partner Vukmirovic Misic law firm’ and close working relationships with selected first-rate firms in the region. Working together with our domestic and international clients on their most significant transactions and around entry to Serbian market, allows us to operate as the perfect hub for SEE and other cross-border transactions.

Our clients operate in increasingly competitive landscape and we are identifying new methods of using legal technology, to help them increase efficiency, save time and streamline work processes - document management, billing and accounting. By adopting LUMINANCE AI platform for legal professionals, we use machine-learning for contract analyses across our practice groups, as well as eDiscovery revolutionary software to simplify operations in all forms of litigation.

With exclusive access to EQUISPHERE – Lex Mundi Innovative service model, our clients can design their own legal team by choosing the best lawyers in the relevant jurisdictions, sharing documentation and communicating with all teams at any time, from a single point of contact.

Consistently recognized as a top-tier law firm, both by clients and leading independent legal directories Chambers & Partners, Legal 500 and IFLR1000, we remain committed to delivering highest quality service to our clients and help them succeed in overcoming cross-border challenges. We remain committed to continuously share our knowledge by regularly publishing articles, giving lectures and organizing international conferences.

Firm's website: http://jpm.rs/