CBK with the first regulatory framework for Crypto-Assets in Kosovo: The first step towards gradual regulation and transparency

The Central Bank of the Republic of Kosovo (CBK) under its responsibilities stemming from Law No. 08/L-295 on Crypto-Assets, has approved the Regulation on Licensing of Crypto-Assets Service Operators Providing Crypto-Assets Exchange Services. The drafting of this Regulation was carried out in consultation with the authorities responsible under this Law and in close cooperation with the International Monetary Fund (IMF), which contributed to this process.

The Regulation on Licensing of Crypto-Assets Service Operators, developed on the basis of Law No. 08/L-295 on Crypto-Assets and the EU Regulation on Markets in Crypto-Assets (MiCA), lays the foundation for creating a regulated and transparent crypto-asset market in Kosovo. This marks the first step toward licensing crypto-asset operators in the country, and will be followed by further regulatory and supervisory developments within a gradual approach supported by IMF technical assistance, in line with CBK's strategy for the sustainable development of this sector.

The Regulation sets out the legal, regulatory, and procedural requirements for licensing and operating crypto-asset exchange providers, whether in fiat currency (including ATMs) or with other crypto-assets. It also establishes the criteria for applying for, obtaining, and maintaining a license, corporate governance requirements, capital requirements, safeguarding client funds, obligations to act with integrity and professionalism, disclosure and transparency, measures against money laundering and terrorism financing, corrective and administrative measures, and other key aspects.

Being a new area of regulation, CBK will organize a workshop to present the approved legal framework and regulatory approach regarding crypto-assets, where stakeholders will receive more detailed information on these developments. On this occasion, CBK invites interested parties to express their interest in participating by sending an e-mail to: [email protected], while interested parties will be informed about the organizational details.

CBK remains dedicated to strengthening the legal and supervisory framework, safeguarding financial stability, and promoting the development of a sustainable crypto-asset market in Kosovo by applying a cautious approach consistent with best European practices.

Regulation on Licensing of Crypto-Assets Service Operators Providing Crypto-Assets Exchange Services you can find on the CBK website at this link: Regulation on licensing of crypto-assets service operators providing crypto-assets exchange services.