Crypto License in Serbia (2026)

Licensing regimeLast reviewed 2026-08-24

Do you need a crypto license in Serbia?

Yes. Serbia licenses digital asset services under a split regime: the National Bank of Serbia authorizes virtual currency services, the Securities Commission authorizes digital token services, and a firm doing both needs both licenses. Operating without the one your model requires is a criminal offense, not an administrative fine.

Read this before you plan an application

Providing virtual currency services without prior National Bank of Serbia licensing is prohibited under the Law on Digital Assets and treated as a criminal offense under Serbia's Criminal Code.

Serbia has had a dedicated digital asset law since 2020, applied from 29 June 2021, and it is one of the few European frameworks that splits supervision by asset type rather than by activity. Virtual currency services answer to the National Bank of Serbia. Digital token services answer to the Securities Commission of the Republic of Serbia, which also approves token white papers. Working out which of the two your business faces is the first real piece of work, because a platform that offers both virtual currency trading and token services can need a license from each. The National Bank also states plainly that operating without a license is a criminal matter rather than a fineable lapse.

Regime: Licensing regime
Regulator: National Bank of Serbia and the Securities Commission
Framework: Law on Digital Assets (2020)

The framework

The Law on Digital Assets (RS Official Gazette No 153/2020) has applied in Serbia since 29 June 2021. It covers the issuance of digital assets, secondary trading, the provision of digital asset services, and pledges and fiduciary rights over digital assets, and it divides supervision between the National Bank of Serbia and the Securities Commission.

Two regulators, and one company can need both

The National Bank of Serbia licenses virtual currency services. The Securities Commission licenses digital token services and approves white papers for token issues. The split follows the asset rather than the business model, so a platform offering both virtual currency trading and token services needs a license from each authority instead of one combined authorization.

The public register

The National Bank of Serbia keeps a Register of Virtual Currency Service Providers that the law requires to be electronic and publicly accessible. Each entry carries the license number and date, the services the provider may perform, ownership and management details, and a cross reference to any digital token license the same provider holds from the Securities Commission. That makes a Serbian provider's status checkable before you send it money.

What it costs

Neither the National Bank of Serbia nor the Securities Commission publishes an application fee, an annual fee or a minimum capital figure for digital asset service providers. Any number you are quoted therefore comes from an adviser rather than from a published schedule, so treat it as an estimate and confirm it with the authority you will actually apply to.

What to watch

Providing virtual currency services without prior licensing is not only prohibited by the Law on Digital Assets. The National Bank of Serbia states it is a criminal offense under Serbia's Criminal Code. Separately, institutions the National Bank already supervises for other purposes cannot also be digital asset service providers or users.

License classes in Serbia

License classes, the activities each covers, and their fees and capital requirements where published.
Class	Covers	Fee	Capital
Virtual currency service license	Services involving virtual currencies, including exchange and transfer, licensed and supervised by the National Bank of Serbia	Not published	Not published
Digital token service license	Services involving digital tokens, licensed and supervised by the Securities Commission, which also approves token white papers	Not published	Not published

What the application requires

License application to the National Bank of Serbia for virtual currency services, or to the Securities Commission for digital token services
Supporting documentation prescribed by the Law on Digital Assets and its secondary regulations
Entry in the relevant public register once the license is granted
AML and CFT compliance under Serbian law
Financial institutions already supervised by the National Bank of Serbia cannot also be digital asset service providers or users

The application process

Identify your regulator
Establish whether the business handles virtual currencies (National Bank of Serbia), digital tokens (Securities Commission), or both
Prepare and file the application
Submit the license application with the documentation the Law on Digital Assets prescribes to the authority that covers your assets
Regulatory review
The authority assesses the application against the Law and its secondary regulations and may return for further information
Register entry
Once licensed, the provider is entered in the relevant public register with its license number and authorized services

Costs and taxation

Neither the National Bank of Serbia nor the Securities Commission publishes a fee schedule or a minimum capital figure for digital asset service providers, so budget for professional advice and confirm any quoted number with the authority you will apply to.

Who is licensed today

The National Bank of Serbia maintains a public electronic Register of Virtual Currency Service Providers, published on its own website and on a dedicated government portal, showing each provider's license number, the services it may offer, and its owners and management. See the official register.

Planning a license application in Serbia?

Tell us what you are building and where you want to operate, and we will point you at the right starting documents and, where we know one, a consultant or law firm with real experience in that jurisdiction. The pointer costs nothing; we may earn a referral fee if you engage a provider we introduce.

Get help with your application Compare jurisdictions

Frequently asked questions

Do I need a license to run a crypto exchange in Serbia?

Yes. Virtual currency services need a license from the National Bank of Serbia, and digital token services need a separate license from the Securities Commission. A platform doing both needs both.

Who regulates crypto in Serbia?

Two authorities share it. The National Bank of Serbia supervises virtual currencies, and the Securities Commission of the Republic of Serbia supervises digital tokens and approves white papers.

How much does a Serbian digital asset license cost?

Neither regulator publishes a fee schedule or a minimum capital figure, so any number you are quoted is an adviser's estimate rather than a published rate. Confirm it with the authority you will apply to.

Can I check whether a Serbian crypto company is licensed?

Yes. The National Bank of Serbia publishes an electronic Register of Virtual Currency Service Providers listing each license number, the services the firm may offer, and its owners.

What happens if I operate without a license in Serbia?

It is prohibited by the Law on Digital Assets, and the National Bank of Serbia states that it is a criminal offense under Serbia's Criminal Code rather than an administrative penalty.

Sources

Buying bitcoin as an individual is a different question entirely: how to buy bitcoin in Serbia covers exchanges, payment methods and legality for residents, and the crypto license hub compares every jurisdiction we track.