Crypto Regulations in Croatia
In Croatia, virtual currencies are defined as “a digital representation of value that is not issued or guaranteed by a central bank or a public authority, is not necessarily attached to a legally established currency, and does not possess a legal status of currency or money, but is accepted by natural or legal persons as a means of exchange and which can be transferred, stored and traded electronically.” Since “virtual currency” is a synonym for “cryptocurrency,” the Croatian government has implicitly provided cryptocurrencies with a legal definition.
Source: Freeman Law
The National Bank of Croatia adheres to the following idea: the assets forming cryptocurrency cannot be considered financial, but the circulation of electronic money in the country cannot be considered illegal, and cryptocurrency exchanges are not prohibited. The absolute majority of Croatian financial experts consider it necessary to introduce regulatory procedures at the legislative level and even licensing of ICO activities. Currently, a license for cryptocurrency in Croatia is not issued, and there are no legislative acts regulating the operation of various crypto-projects. Considering the views of the National Bank of Croatia and the Central Administration of Tax Administration that bitcoin is not a financial equivalent, but merely an instrument, the government is slow in coordinating measures. It is worth noting that parliamentarians positively assess the course of cloud assets in the local business environment, but licensing a cryptocurrency exchange in Croatia is in the future.
Source: Law & Trust
A license to carry out operations with cryptocurrency assets in Croatia is issued by a separate body that also regulates the turnover of cryptocurrencies in general. The Croatian government is interested in making the cryptocurrency industry as clear and safe as possible for the consumer. For this, appropriate measures are being taken, in particular, acts on the control of cryptocurrencies are being formed, special requirements are put forward for obtaining licenses, and so on. License type: crypto exchange and custody service provider (crypto exchange and custody service provider).
Source: Eternity Law
Cryptocurrency transactions are still not regulated and supervised by Croatian laws. However, you must pay taxes depending on how you obtained your cryptocurrency.
Source: Expat in Croatia
Income from the sale of cryptocurrencies in Croatia is treated as a form of financial transaction. This means that it is taxed in the same way as other receipts from financial assets. Sold cryptos are considered to be a type of receipt, so you must pay income tax called porez na dohodak.
Source: Expat in Croatia
Cryptocurrencies have been present on the market for more than a decade, but their implementations, opinions, and proposals for regulation are still not globally harmonized. Consequently, that tax liability is a major concern for cryptocurrency investors due to the most obscure and complex tax laws. The Republic of Croatia still does not have the Law on Cryptocurrencies but trading in cryptocurrencies is regulated as a form of investment through Personal Income Tax Act.
Source: Confida
The fact that the Croatian government does not regulate cryptocurrency raises two considerations. First, Croatian authorities do not issue licenses to cryptocurrency firms. So, any firms that facilitate cryptocurrency transactions within the country are not licensed by the state. Second, Croatian agencies are not authorized to supervise the quality of services provided by these unlicensed firms. Consequently, cryptocurrency firms in Croatia are likely unlicensed, and the quality of service that these firms provide are mostly unregulated by the Croatian government.
Source: Freeman Law
The Croatian government has been supportive of the development of the Bitcoin industry and has even launched a pilot program that allows citizens to pay their taxes with Bitcoin. This move is aimed at attracting more businesses to the country and boosting economic growth. Despite the slow start, it seems that Bitcoin mining could eventually become a significant contributor to Croatia’s economy. With the right policies in place, the country could become a major hub for Bitcoin mining and related activities.
Source: Analytic Insight
Croatia is embracing crypto at an exponential rate. Earlier in the week, Konzum announced it will accept cryptocurrency payments in its online store. This is phase one for Croatia’s largest supermarket chain, the company plans to roll out the service in all of its stores. The country is quickly becoming one of the friendliest for cryptocurrency enthusiasts. One could probably already live on crypto over there, and that is the concept we’ll explore.
Source: Bitcoinist
Reportedly, a minor from western Croatia’s Slavonski Brod County was arrested by the police for stealing data of 100,000 users of Tele Operator A1 and asking for 150 Ethereum coins ($500,000) in ransom.
Source: HackRead
Not available
Not available