NBS’ warning on first Serbian digital currency Lazar

The National Bank of Serbia (NBS) announces that it has not issued any approval for the ‘White Paper’, a document that is published when issuing virtual currencies such as those related to digital property, for the first Serbian virtual currency called Lazar.

The Bank also states that no request for approval has been submitted to it so far.

The NBS points out that advertising the offer of virtual currencies and other digital assets issued in Serbia is allowed only in accordance with the provisions of the Law on Digital Assets and notes that no form of digital assets currently meets the requirements for such issuance. The NBS also advises citizens not to invest in digital assets that do not meet the conditions prescribed by law, as there is a significant risk of losing all funds.

The National Bank also warns that there is a fine of up to five million dinars for advertising virtual currencies that goes against the Digital Property Act, and that “as a supervisory body, the Bank will implement all available measures to prevent the issuance and recognition of such currencies that deceive citizens”.

Earlier, there were media reports that Serbia had received approval for the Lazar digital currency, issued by a broker and economic expert from Jagodina.

(021.rs, 06.07.2021)

https://www.021.rs/story/Info/Biznis-i-ekonomija/278656/Upozorenje-NBS-povodom-napisa-o-prvoj-srpskoj-digitalnoj-valuti-Lazar.html

This post is also available in: Italiano

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