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You don’t see it and you can get rich. Several thousand people in Serbia already live off their cryptocurrency earnings.
Three years ago, the National Bank regulated the circulation of digital currencies, mainly to prevent money laundering. Now is the time for a new law.
“Investment Token Keys Law”
The sector director at the NBS, Dejan Dević, says that the key to the law itself is the so-called investment tokens.
“It is a form of digital assets that somehow replace traditional financial instruments and can be used for financing. They are already used in some countries around the world and can represent an alternative, for example, to debt securities,” says Devic.
In Serbia, several million euros per month are converted into virtual currencies or vice versa through digital platforms of electronic wallets or exchange offices.
“Possibility of minimizing fraud”
When it comes to digital tokens, they often come from abroad with fake accounts, so three-quarters of those investments are actually scams.
Foreign platforms are mainly used for trading bitcoins in Serbia.
Our innovative companies and entrepreneurs expect better regulation of the law, because the objective is not fraud, but the improvement of the national IT sector.
“That there is practically a selection through the licensing process and through the approval process of some projects where we will reduce the possibility of fraud to a minimum because any investment process through tokens will have to go through a certain procedure,” said Aleksandar Matanovic by ECD.
EU Guidance: Cryptocurrencies May Be on Business Balance Sheets
The central banks of the most developed countries of the European Union have recently given instructions on how to issue local cryptocurrencies.
They will not be traded on the stock exchange for now, but those currencies can enter balance sheets, that is, the assets of companies in digital form.
Is this how the history of capital is completed after a year of mistrust?
“This problem was solved thanks to cutting-edge IT solutions such as blockchain, which is a centralized ledger of transactions and provides information on any changes, that is, there is a low probability of compromise from hackers,” explains the professor from the Malisa Djukic Banking Academy of Belgrade.
The digital property law will have to have accompanying regulations, because, for example, you can buy virtual currency, but also make money from so-called mining.
Acquiring currency alone is as risky as any supply and demand, and the main problem for now is the wide range of values that can go up or down in the short term.
