Cryptocurrency License in Croatia | Law&Trust International

License for Cryptocurrency in Croatia

The National Bank of Croatia adheres to the following idea: the assets forming cryptocurrency cannot be considered financial, but the circulation of electronic money in the country cannot be considered illegal, cryptocurrency exchanges are not prohibited.

The absolute majority of Croatian financial experts consider it necessary to introduce regulatory procedures at the legislative level and even licensing of ICO activities.

Currently, a license for cryptocurrency in Croatia is not issued, and there are no legislative acts regulating the operation of various crypto-projects. Considering the views of the National Bank of Croatia and the Central Administration of Tax Administration that bitcoin is not a financial equivalent, but merely an instrument, the government is slow in coordinating measures.
It is worth noting that parliamentarians positively assess the course of cloud assets in the local business environment, but licensing a cryptocurrency exchange in Croatia is in the future.

License for Operation with Cryptocurrency in Croatia

Cryptocurrency operations participants have many similarities, differing in the use of internal control instruments. Nevertheless, the license to operate with cryptocurrency in Croatia will allow to divide contractors into 3 groups:


  • Conducting operations on the exchange of cryptocurrency;
  • Conducting operations on the exchange of cryptocurrency for fiat funds;
  • Conducting the first and the second type of operations.
Getting a license for cryptocurrency exchange in Croatia is impossible. This is a serious error of the state ,in which cryptocurrency is not regulated.
However, there are legislative acts that can regulate cryptocurrency exchanges in Croatia: The Act on Payment Systems, The Act on Regulation of the Capital Market. These acts regulate classic securities, for example, stocks. However, the lack of understanding of the cryptocurrency nature does not allow to extend the effect of these acts on operations with cryptocurrency unambiguously . The symbiosis of the government actions and ordinary citizens, in an effort to secure and streamline cryptocurrency operations, must serve the only fundamental principle: to educate the public about the advantages and possibilities of modern innovative technology.
Croatian crypto-enthusiasts, who founded several years ago the first cryptocurrency exchange in Croatia, in 2018 created an independent Association of blockchain and cryptocurrency. The purpose of the association is educational and regulatory. Growing interest in cryptocurrency requires a more competent approach. The lack of effective steps by the state in the direction of licensing, which implies the use of legal instruments, such as a license for cryptocurrency in Croatia and others, prompted experts to come up with the initiative to the country relevant ministries for clarification. Creating a blockchain information base can increase budget revenues. The Central Bank of Croatia adheres to the principles of the European Union, refusing to consider Bitcoin as an electronic currency, at the same time recognizing it as an alternative means of payment. Indeed, he Internet users can carry out operations with cryptocurrency, but the lack of legal regulation does not protect users from potential fraud. Given the foregoing, digital money is still defined in Croatia as virtual schemes. It is not prohibited to be engaged in them and accept payments in the virtual version.

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