The number of cryptocurrency holders in Serbia has climbed to approximately 200,000. With the development of the cryptocurrency market, interest in cryptocurrencies has also increased. The country’s decision this year to legally recognize digital assets has also contributed to their growing popularity.

Digital asset law puts Serbia on the encrypted map

Recently passed regulations and genuine investor interest have made Serbia, a population of 7 million people in Southeast Europe, one of the countries that regard cryptocurrency as a modern thing. According to local media reports, about 200,000 Serbs now own one coin or another, citing the latest estimates provided by the crypto industry.

Serbia’s digital asset law came into effect at the end of June this year. The legislation recognizes cryptocurrencies such as Bitcoin as virtual assets. Its terms define them as digital records of value that can be bought, sold, transferred, and exchanged. Business news portal Ekapija pointed out in a report that since the adoption of cryptocurrencies, the number of Serbians holding cryptocurrencies has increased.

Marko Zivkovic, marketing director of the cryptocurrency exchange ECD, told Tanjug News Agency: “Every month this year, our cryptocurrency trading has seen a significant increase.” “The Serbian market is definitely growing, and we are not behind some developed markets.” The executive emphasized.

The crypto trading platform operates under a temporary license, allowing it to provide users with the option of buying and selling coins. Looking forward to obtaining permanent authorization from the National Bank of Serbia (National Bureau of Statistics) In the first few months of next year. Zivkovic pointed out that once the exchange is fully licensed, it will also be able to process encrypted payments for goods and services.

Economist Malisa Djukic pointed out that the capitalization of the global cryptocurrency market has increased significantly in the past two to three years. He commented that, regardless of size, investor interest in cryptocurrencies is undoubtedly rising. He added that the same is true for the volume and value of crypto transactions.

Djukic pointed out that similar observations can be made regarding Serbia’s interest in cryptocurrency trading, and emphasized that legislation that treats cryptocurrencies as assets can contribute to this trend. He explained that the law creates a legal basis that allows companies to record encrypted funds on their balance sheets and report profits and losses from related businesses. It also makes it possible for the government to tax crypto investments.

In terms of adopting cryptocurrency, Serbia has many places to catch up with regional leaders and the other two former Yugoslav Republics.One Report It has been revealed since last year that Bitcoin-friendly Slovenia has more than 1,000 places accepting various digital currencies.Crypto payments are also spreading in neighboring Croatia, where the leading Supermarket chain Nine coins are now accepted in its online store.

Do you want Serbia to become the next cryptocurrency hotspot in Southeast Europe? Tell us in the comments section below.

Lubomir Tasef

Lubomir Tassev is a tech-savvy journalist from Eastern Europe. He likes Hitchens’ famous quote: “Being a writer is my nature, not what I do.” In addition to encryption, blockchain and financial technology, international politics and economics Are the other two sources of inspiration.