The Law on Digital Property enables the issuance of investment tokens in Serbia, and the central bank expects that they will contribute to the financing of starting a business, primarily for smaller companies.
The NBS says for Tanjug that in the initial phase of business, traditional sources of financing are usually more inaccessible and explain that investment tokens are in practice based on real projects.
-Investment tokens are a type of digital asset that is issued for the purpose of raising funds to finance a certain project, and which gives the investor a certain right in relation to that project, for example profit sharing, usually in the form of rights to products or services of the future project – they say from the NBS.
Also, the issuance of investment tokens is usually accompanied by a white paper of the issuer, which corresponds to the prospectus when issuing financial instruments in accordance with the law governing the capital market, with white paper being issued and published in a simpler procedure than the prospectus.
This issuance of investment tokens makes it a more attractive form of financing, especially for innovative startups and small and medium-sized legal entities.
In accordance with the Law on Digital Assets, the supervisory body approves the publication of a white paper for the issuance of digital assets, for virtual currencies by the National Bank of Serbia, and for digital tokens by the Securities Commission.
The request for approval of the publication of white paper is submitted through the eGovernment portal, and the supervisory body, ie the Securities Commission in case of issuing investment token decides on that request within 30 days from the day of receipt of a valid request.
The NBS says that there is no restriction on projects that can be financed by issuing investment tokens, as long as they are issued in accordance with the Law on Digital Property.
The Securities and Exchange Commission is responsible for all issues related to investment and other digital tokens, the NBS notes, Tanjug reports.
