Working group for preparing the Working Draft of the Law on Crypto Assets established
16/11/2022
The Financial Stability Council held its 61st meeting today, chaired by Radoje Žugić, Governor of the Central Bank of Montenegro (CBCG) and Chairman of the Council. The Council members – Aleksandar Damjanović, Minister of Finance, Uroš Andrijašević, President of the Council of the Insurance Supervisory Agency and Zoran Đikanović, President of the Capital Market Authority, attended the meeting. Upon the invitation, Vojin Vlahović, Director of the Deposit Insurance Fund, also participated in the meeting.
To regulate the crypto assets area, i.e. provide a regulatory framework for performing activities related to this asset type, the Council today formed a working group tasked with preparing the Working Draft of the Law on Crypto Assets. The CBCG will coordinate the work of the team. In addition to representatives of this institution, members of the working group also include representatives of the Ministry of Finance, the Capital Market Authority and the Insurance Supervision Agency. The CBCG and the Ministry of Finance provided the World Bank's technical assistance for preparing this legal text.
Minister of Finance Aleksandar Damjanović informed the other Council members of the most important elements of the 2023 Budget, emphasising that the missing funds amount to some 700 million euros. At today's meeting, Council members discussed the possibilities of State borrowing on the domestic financial market to secure funds for financing budget obligations this year and create fiscal reserves for the following year.