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Japan vs Serbia

Crypto regulation comparison

← Back to map | Japan | Serbia
Japan

Japan

Serbia

Serbia

Legal
Legal

Japan is one of the world's most comprehensively regulated crypto markets. The Payment Services Act and Financial Instruments and Exchange Act govern crypto exchanges and tokens. Japan classifies crypto as "crypto-assets" and taxes gains as miscellaneous income at rates up to 55%, though reforms to lower this rate are under active discussion.

Serbia's Law on Digital Assets, enacted in December 2020 and effective June 2021, created one of the first comprehensive crypto regulatory frameworks in the Western Balkans. The NBS oversees virtual currencies while the Securities Commission handles digital tokens. Service providers must obtain licenses and comply with AML/KYC requirements. Capital gains taxed at 15%.

Tax Type Income
Tax Type Capital gains
Tax Rate 15-55%
Tax Rate 15%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator FSA (Financial Services Agency), JVCEA
Regulator National Bank of Serbia (NBS), Securities Commission
Stablecoin Rules 2022 stablecoin law requires issuers to be licensed banks, trust companies, or fund transfer agents
Stablecoin Rules No specific stablecoin regulation
Key Points
  • Crypto exchanges must register with the FSA under the Payment Services Act
  • Crypto gains taxed as miscellaneous income at up to 55% (national + local tax)
  • Japan's self-regulatory body JVCEA sets industry standards for exchanges
  • 2022 stablecoin legislation (revised Payment Services Act) regulates stablecoin issuance
  • Government considering tax reform to apply a flat 20% separate taxation on crypto gains
Key Points
  • Law on Digital Assets enacted December 2020, effective June 2021
  • NBS regulates virtual currencies; Securities Commission regulates digital tokens
  • Capital gains on crypto taxed at 15%
  • Service providers must obtain licenses and maintain physical offices in Serbia
  • Transfer/conversion of digital assets exempt from VAT
Sources
Sources