NBS on Bitcoin: Trade at Own Responsibility

When buying or using the bitcoin currency, citizens should be cautious and aware that they are doing so at their own responsibility and that they handle the consequent financial risks themselves, the National Bank of Serbia says on the occasion of the increasingly frequent discussions about bitcoin.

The NBS reminds for Tanjug that they have pointed out several times that bitcoin and other virtual currencies are not a legal tender (means of payment) and that the central bank does not provide any guarantees when it comes to its value.

The position of the NBS, they say, has not changed even with the recent adoption of the Law on Digital Property, the preparation of which they took part in. Even this law does not make bitcoin a legal tender in Serbia.

The NBS explains that the law regulates the business activities of those who do business involving digital property, but the goal of its adoption is not to promote investing in virtual currencies, but exclusively to regulate the field which is much wider than these currencies and that was not regulated before.

In deciding where to invest their money, citizens should know that savings investments of up to EUR 50,000 are insured, whereas investments in bitcoin are not insured at all, making them riskier, the NBS says.

Narodna banka Srbije Beograd

National Bank of Serbia

bitcoin

cryptocurrencies

cryptocurrencies trade

Law on Digital Property

virtual currencies