Serbia is a country in Southeast Europe with a population of just over 7 million people. It has been an independent nation since 2006 and its capital city is Belgrade. The official language spoken in Serbia is Serbian, however English and German are also widely used.
Cryptocurrency in Serbia
The use of cryptocurrency has become increasingly popular in Serbia over recent years as more people look for alternate forms of payment to traditional banking methods. In 2020, the Central Bank of Serbia (CNB) issued guidance on the use of cryptocurrencies within the country, highlighting that there was no legal framework yet established for them but warning investors to be aware of the risks associated with digital currencies. As such it remains unregulated and any transactions involving cryptocurrency are not protected by existing laws or regulations protecting other financial instruments like shares or bonds.
Taxation
Although currently unregulated, taxation related to cryptocurrency activities may still apply depending on circumstances – including if certain profits were generated from trading crypto assets or mining activities as well as where applicable taxes have already been paid elsewhere which should then be declared when filing income tax returns within Serbia so that double taxation can be avoided. Any gains made from crypto trading will likely fall under either personal income tax or corporate tax depending on what type of entity carries out these activities .
Legal Status
At present ,the legal status around cryptocurrencies is unclear due to their lack of regulation but plans are being developed by the government to introduce legislation governing their usage at some point during 2021-2022 . Until then though digital currency exchanges remain illegal while possession and trading continues without legal protection against fraud or criminal activity . Additionally , users should always take extra caution when investing online given the potential risk posed by scams and other deceptive practices that exist on this market .
