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Serbia vs Somalia

Crypto regulation comparison

← Back to map | Serbia | Somalia
Serbia

Serbia

Somalia

Somalia

Legal
No Regulation

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%.

Somalia has no specific cryptocurrency regulation. The fragmented governance structure makes unified regulation extremely difficult. Mobile money dominates the financial landscape.

Tax Type Capital gains
Tax Type None
Tax Rate 15%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator National Bank of Serbia (NBS), Securities Commission
Regulator Central Bank of Somalia
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules No stablecoin regulation
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
Key Points
  • No specific cryptocurrency legislation
  • Fragmented governance limits regulatory development
  • Mobile money dominates informal financial system
  • Very limited formal financial infrastructure
  • No licensing framework for crypto services
Sources
Sources