Slovenia has been welcoming to ICOs, not regulating them at all. They also have sought to make themselves a destination for ICOs and cryptocurrencies. New EU regulations will test this though, and so while Slovenia will have to figure out how to balance this, it seems they will make efforts to remain receptive to ICOs.
Slovenia is located in Europe (EU): The countries of the European Union hold a patchwork of individual attitudes towards cryptocurrency regulation, but all of them also fall under the jurisdiction of the EU Commission.
Cryptocurrency trading in Slovenia
Cryptocurrencies are were not initially regulated in Slovenia, until recent EU announcements.
Announcements from the Prime Minister have pointed to the government supporting the blockchain to a large extent, with the intent of becoming a blockchain-friendly destination. He has stated:
“Slovenia as a whole is, therefore, setting itself up as a Blockchain-friendly destination, and to that end it is establishing the pillars of a national Blockchain ecosystem in the area of the transfer and spread of information, the adoption of legal regulations and the promotion of a supportive environment for the development of companies working in the area of Blockchain technology.”
But In January the EU came out with new directives on cryptocurrencies, asserting that “gaps still exist in the oversight of the many financial means used by terrorists, from cash and trade in cultural artefacts to virtual currencies and anonymous pre-paid cards. This proposal seeks to address those gaps while avoiding unnecessary obstacles to the functioning of payments and financial markets for ordinary, law-abiding citizens and businesses, so balancing the need to increase security with the need to protect fundamental rights, including data protection, and economic freedoms.”
Mostly focused on ending anonymity among the crypto community, and preventing nefarious individuals from buying, funding, or selling orgs or resources. It does include the sharing of company and individual information with public entities at times, and affects exchanges and wallets.
Regulation of ICOs in Slovenia
ICOs were not regulated in Slovenia, though there will likely be upcoming regulations to comply with the new EU regulations.
Cryptocurrency markets in Slovenia
Slovenia has tried to position itself as a hub for crypto and has a fair amount of start-ups, mostly as a result of a lack of regulation regarding both ICOs and cryptocurrencies. There are also a number of places that accept cryptocurrencies and some cryptocurrency ATMs.
IBC’s planning and strategy team can provide expert advice on ICOs in different jurisdictions. If you’re thinking of holding an ICO in COUNTRY and you’d like more information, contact us here.
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