Experts from Montenegro, Serbia, and Croatia emphasized that cryptocurrencies and blockchain hold significant innovation potential but require coordinated regulation and ongoing education to ensure the regional digital asset market develops safely and sustainably.
Anina Milanović from the Serbian Securities Commission noted that Serbia adopted a digital asset law in 2020, distinguishing tokens, which confer certain rights, from virtual currencies used solely for exchange. Serbia has approved ten “white paper” issuances, mostly tokenized bonds, providing small companies with alternative financing options. She stressed the importance of rebuilding investor trust through education and conferences.
Danilo Gluščević from Montenegro’s Capital Market Commission highlighted ongoing efforts to create a regulatory framework and educate stakeholders, including a regulatory sandbox for testing blockchain projects. A draft law aligning with EU regulations is nearly complete, and crypto-related services have already been included in Montenegro’s anti-money laundering law.
Vlaho Hrdalo from Croatia’s Blockchain and Crypto Association underlined that cryptocurrencies have evolved from an alternative movement to a legitimate part of the financial system. EU regulation, particularly MiCA, standardizes rules, enables cross-border operations, and legitimizes the sector. He emphasized that tokenization allows digital representation of ownership or rights, making financial experimentation and literacy accessible.
Panelists agreed that the future of crypto and capital markets in the region depends on balancing innovation with responsible regulation, continuous education, and building trust in institutions.
