Serbia vs Timor-Leste
Crypto regulation comparison
Serbia
Timor-Leste
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%.
Timor-Leste has no specific cryptocurrency regulation. Uses the US dollar as its official currency.
Tax Type
Capital gains
Tax Type
None
Tax Rate
15%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
National Bank of Serbia (NBS), Securities Commission
Regulator
Banco Central de Timor-Leste
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
- Uses the US dollar as official currency
- Central bank has not addressed crypto regulation
- Very limited financial infrastructure
- Minimal crypto adoption