Cryptocurrencies are digital assets that can be bought, sold, exchanged, and transferred electronically. The best-known cryptocurrency is Bitcoin, but today there are many different cryptocurrencies with different functions and purposes.
In everyday language, the term cryptocurrency is most commonly used, while Serbian legislation uses the more precise term virtual currency. According to the Law on Digital Assets, a virtual currency is a type of digital asset that is not issued by, and whose value is not guaranteed by, a central bank or any other public authority. It does not have the legal status of money or currency, but it can be bought, sold, exchanged, transferred, and stored electronically.
In other words:
Cryptocurrency = the term most commonly used in everyday language.
Virtual currency = the legal term used in Serbia.
Digital asset = the broader legal term that includes virtual currencies and digital tokens.
Are Cryptocurrencies the Same as Digital Currencies?
No.
This is one of the first distinctions that should be clarified.
Digital asset is the broader term. Under the Law on Digital Assets of the Republic of Serbia, a digital asset is a digital record of value that can be bought, sold, exchanged, or transferred and used as a means of exchange or for investment purposes.
Within this category, the law distinguishes, among other things, between virtual currencies and digital tokens.
For that reason, it is not precise to refer to all of them as “digital currencies.” When referring to Bitcoin, Ethereum, Solana, and other cryptocurrencies in the context of Serbian law, the more accurate term is virtual currency.
Cryptocurrencies in Serbia: What Does the Law Say?
Serbia has a dedicated legal framework for digital assets.
The Law on Digital Assets was published in the Official Gazette of the Republic of Serbia, No. 153/2020. It entered into force on December 29, 2020, and began to apply on June 29, 2021.
For the first time, this law comprehensively regulated the legal framework for the issuance of digital assets, digital asset trading, the provision of digital asset-related services, and the supervision of such activities.
This means that digital asset activities in Serbia are not governed solely by the rules of individual platforms, but by a dedicated legal framework.
Who Issues Licenses for Crypto Services in Serbia?
It depends on the type of digital asset and the service involved.
The National Bank of Serbia (NBS) is responsible for virtual currencies and issues licenses for the provision of services related to virtual currencies.
The Securities Commission is responsible for matters related to digital tokens, in accordance with the division of responsibilities established by the Law on Digital Assets.
For this reason, the law does not use “crypto exchange” as the legal designation for a company. The precise term is digital asset service provider.
Crypto in Serbia — With a Regulated Service Provider
If you want to buy, sell, or store digital assets through a platform in Serbia, it is important to check who provides those services and under which regulatory framework they operate.
Crypto12 is a licensed provider of services related to virtual currencies in Serbia, supervised by the National Bank of Serbia and the Securities Commission. Its operations are conducted in accordance with the Law on Digital Assets and the relevant regulatory requirements.