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Zagreb - The ruling majority and the opposition on Wednesday welcomed a bill on the implementation of the European regulation on crypto-asset markets which aims to protect consumers and investors.
According to 2023 Eurobarometer data, Croatian citizens, after Slovenians (18%), invest the most in cryptocurrencies, with 16% of them doing so.
Finance Ministry State Secretary Davor Zoričić said in parliament the final bill implemented the so-called MiCA (Markets in Crypto-Assets) regulation, which also aims to maintain financial stability, enable innovation, and enhance the attractiveness of the crypto-asset sector.
"If we'd had the regulation earlier, we could have prevented public manipulation and fraud, especially when very high returns are promised without any basis," he said.
The bill ensures greater transparency and regulates the conditions for granting operating licences, as well as oversight of crypto-asset service providers. It also provides greater client protection and establishes measures to prevent insider trading.
The competent authorities responsible for implementation and oversight will be the Croatian Financial Services Supervisory Agency and the Croatian National Bank.
During the debate, MPs warned about the dangers of investing in cryptocurrencies.