On Friday, March the 17th 2023, the 44th session of the X convocation of the Securities Commission of the Republic of Serbia was held, where the Commission approved the requests of the business companies MCM 965 D.O.O. BELGRADE and VESCON DOO BELGRADE-UGRINOVCI for the issuance of a license for the provision of services related to digital tokens.
The Securities Commission of the Republic of Serbia granted licence to business company MCM 965 D.O.O. BELGRADE for the provision of the following services prescribed by Article 3, paragraph 1, point. 1), 2), 3) and 4) of the Law on Digital Property:
1) receipt, transfer and execution of orders related to the purchase and sale of digital tokens for the account of third parties;
2) services of buying and selling digital tokens for cash and/or account funds and/or electronic money;
3) services of exchange of digital tokens for other digital assets;
4) storage and administration of digital tokens for the account of users of digital tokens and related services;
While the commercial company VESCON DOO BELGRADE-SAVSKI VENAC received licence from the Commission to provide the following services prescribed by Article 3, paragraph 1, point. 1), 2), 3) and 4) of the Law on Digital Property:
1) receipt, transfer and execution of orders related to the purchase and sale of digital tokens for the account of third parties;
2) services of buying and selling digital tokens for cash and/or account funds and/or electronic money;
3) services of exchange of digital tokens for other digital assets;
4) storage and administration of digital tokens for the account of users of digital tokens and related services;
5) digital token portfolio management.
Competence for decision-making in administrative procedures and supervision in the field of digital assets is divided between the Securities Commission of the Republic of Serbia and the National Bank of Serbia, so that the National Bank of Serbia has jurisdiction in the part related to virtual currencies, and the Commission in the part related to digital tokens. In case that a certain digital asset has the characteristics of both a virtual currency and a digital token, or in the case a provider of services related to digital assets (PUDI) provides services related to virtual currencies and digital tokens, both, Securities Commission of the Republic of Serbia and the National Bank of Serbia have the jurisdiction.
The Securities Commission of the Republic of Serbia granted licence to business company MCM 965 D.O.O. BELGRADE for the provision of the following services prescribed by Article 3, paragraph 1, point. 1), 2), 3) and 4) of the Law on Digital Property:
1) receipt, transfer and execution of orders related to the purchase and sale of digital tokens for the account of third parties;
2) services of buying and selling digital tokens for cash and/or account funds and/or electronic money;
3) services of exchange of digital tokens for other digital assets;
4) storage and administration of digital tokens for the account of users of digital tokens and related services;
While the commercial company VESCON DOO BELGRADE-SAVSKI VENAC received licence from the Commission to provide the following services prescribed by Article 3, paragraph 1, point. 1), 2), 3) and 4) of the Law on Digital Property:
1) receipt, transfer and execution of orders related to the purchase and sale of digital tokens for the account of third parties;
2) services of buying and selling digital tokens for cash and/or account funds and/or electronic money;
3) services of exchange of digital tokens for other digital assets;
4) storage and administration of digital tokens for the account of users of digital tokens and related services;
5) digital token portfolio management.
Competence for decision-making in administrative procedures and supervision in the field of digital assets is divided between the Securities Commission of the Republic of Serbia and the National Bank of Serbia, so that the National Bank of Serbia has jurisdiction in the part related to virtual currencies, and the Commission in the part related to digital tokens. In case that a certain digital asset has the characteristics of both a virtual currency and a digital token, or in the case a provider of services related to digital assets (PUDI) provides services related to virtual currencies and digital tokens, both, Securities Commission of the Republic of Serbia and the National Bank of Serbia have the jurisdiction.