The Ministry of Finance, in cooperation with the Central Bank and the Capital Market Commission, has started preparatory activities in the drafting of a law that will regulate the field of digital or crypto-assets, in accordance with the MICA regulation.
This was told to "Vijesti" in the department headed by the minister Novica Vuković.
"At the beginning of June 2023, the European Commission adopted the MiCA regulation (Markets in Crypto-Assets Regulation), which governs the regulatory framework for crypto assets. However, the regulatory framework has not been finalized at the level of the European Union (EU), since the adoption of technical standards that should enable the full functioning of the regulatory framework is still in progress, and for this reason it is not possible to specify the deadlines for the adoption of regulations in this area", they said. are in the ministry.
This department clarified that, among other things, the issue of taxation of crypto assets will be discussed in detail, as well as the comparative experiences of EU countries, all in accordance with EU regulations, international standards and practice.
"With Montenegro's decision to join the EU, the reform of the financial sector in accordance with EU standards began, that is, the continuous obligation to harmonize domestic regulations with EU regulations. Montenegro has started activities related to joining the single area of payments in euros (SEPA), which will enable payments and receiving payments in euros under the same conditions, rights and obligations as in EU countries, with a significant reduction in the costs of cross-border payments in Montenegro with EU countries", said the Ministry of Finance.
From this department, they stated that they continuously carry out numerous activities to eliminate business barriers, as well as to create conditions for the development of financial technologies (Fintech), bearing in mind that digital transformation is based on secure infrastructure and key systems for faster and easier use of electronic services , one of the Government's priorities, all with the aim of further developing the digital economy and strengthening economic growth.
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