Montenegro is a small country on the Balkan Peninsula. It does not have a legal framework for regulating cryptocurrencies. But despite this, there are more than 6,000 cryptocurrency holders in the country.
Montenegro is a small country on the Balkan Peninsula. It does not have a legal framework for regulating cryptocurrencies. But despite this, there are more than 6,000 cryptocurrency holders in the country.
Montenegro has a сonsiderable danger security level according to our rating. Jurisdiction has 63.1 points (from 100) for safety level in Numbeo crime rating (1). Homicide level (2) is 2.6 per 100,000 inhabitants a year. Level of firearm-related death (3) 1.58 per 100,000 inhabitants a year.
Cryptocurrencies are not regarded (4) as an official means of payment in Montenegro, although their use is not prohibited. In a recent informal statement published on its website, the Central Bank of Montenegro restated that as virtual currencies are not a legal means of payment in Montenegro, any transaction facilitated through virtual currencies is performed at one’s own risk.
The cryptocurrency market and the purchase of real estate in crypto are not (5) legally regulated in Montenegro, the Central Bank warns, but despite the potential risks, there have been millions of euros’ worth of real estate transactions that have been paid in digital currencies (probably with conversion into cash).
Paying salaries in cryptocurrencies is currently prohibited in Montenegro, as cryptocurrencies are not legal tender in the country. However, this will become possible after the introduction of its own stablecoin by the Central Bank of Montenegro.
Currently (January 2024) Montenegro has no actual crypto regulation. However, latest months the country is active in the field of crypto.
The Central Bank of Montenegro (CBCG) has signed an agreement with blockchain solutions provider Ripple to produce a CBDC pilot program. Also Montenegro in the beginning of 2023 has granted citizenship (6) to Ethereum founder Vitalik Buterin.
New Prime Minister Milojko Spajic, who was involved in the financial markets before he went into politics, is going to provide crypto regulation in the country and incorporate (7) Bitcoin into its financial landscape.
Headline PIT, CIT and CGT tax rates are 15% based on PWC(8).
1)👉🏻Crime Index by Country 2023 Mid-Year
2)👉🏻List of countries by intentional homicide rate
3)👉🏻List of countries by firearm-related death rate
4)👉🏻Global Legal Insights. Montenegro. PDF file
5)👉🏻 Crypto for Villas: Montenegro’s Luxury Property Market Gets a Digital Boost. Article
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