Serbia is a country located in southeastern Europe, in the central part of the Balkan Peninsula. Serbia is a developing country with a transitional economy. In recent years, the government has been making efforts to attract foreign investment and stimulate economic growth. The country has a favorable geographical position, a skilled workforce, and potential for development in various sectors.

In July 2021, a new Law on Digital Assets came into force in Serbia, which opened up opportunities for obtaining a license and conducting cryptocurrency business in the country. This law regulates various aspects of working with digital assets and establishes requirements for companies wishing to provide services in this area.

Types of activities subject to licensing

• Receiving, transferring, and executing orders related to the purchase and sale of digital assets on behalf of third parties.
• Services for buying and selling digital assets for cash, funds in an account, or electronic money.
• Services for exchanging digital assets for other digital assets.
• Storage and management of digital assets on behalf of users and related services.
• Services related to the issuance, offering, and sale of digital property, with or without the obligation to purchase it.
• Maintaining a register of pledges on digital property.
• Services for receiving/transferring digital assets.
• Management of a digital asset portfolio.
• Organizing a platform for trading digital assets.

Capital and management requirements

Depending on the specific type of activity, companies wishing to obtain a license must meet a number of requirements. One of the key requirements is the presence of share capital, the size of which varies from 20,000 to 125,000 euros.

In addition, members of the management and the director of the company must have no criminal record and appropriate professional qualifications. This implies having a higher education and at least three years of experience in a managerial position in the financial sector or in a company whose activities are similar to those related to the provision of services in the field of virtual currencies.

The process of obtaining a cryptocurrency license in Serbia can take from 7 to 10 months.

The new Law on Digital Assets in Serbia has created favorable conditions for the development of the cryptocurrency business in the country. Obtaining a license allows companies to legally provide a wide range of services related to digital assets and operate in a regulated environment.

How to obtain a cryptocurrency license in Serbia

In order to obtain a cryptocurrency license in Serbia, it is necessary to register a company and submit an application to the regulator. IT-OFFSHORE offers turnkey solutions for obtaining a license in Serbia.