Cryptocurrency trading is illegal in Montenegro, the Ministry of Finance announced. The reason is that we do not have a legal regulation that defines that area. On the other hand, Article 10 of the Constitution, which states that everything that is not prohibited by the highest legal act and law is allowed in our country.
Trade in cryptocurrencies in Montenegro is illegal because there is no law that defines it. This follows from the announcement of the Ministry of Finance, according to which it is possible to be on the other side of a law that does not even exist.
But if it is illegal to trade cryptocurrencies because there is no law that treats it – the question is how it works in the European Union.
– Some countries have adopted their national regulations, some have not, however in all those countries citizens freely trade cryptocurrencies.
– In Montenegro, as far as I have heard, the working group working on the drafting of the law for crypto-currencies will follow the recommendations from that EU regulation – adds Svrkota.
Otherwise, the preliminary position of that working group is, as announced, that Montenegro should not apply the regulations of the European Union, before they are implemented in its member states.
