Croatia

In Croatia, virtual currencies are defined as “a digital representation of value that is not issued or guaranteed by a central bank or a public

authority, is not necessarily attached to a legally established currency, and does not possess a legal status of currency or money, but is

accepted by natural or legal persons as a means of exchange and which can be transferred, stored and traded electronically.” Since “virtual

currency” is a synonym for “cryptocurrency,” the Croatian government has implicitly provided cryptocurrencies with a legal definition.

Despite providing a legal definition, the Croatian government’s restrictive regulations display the state’s skepticism of the new technology. In

2017, the National Bank of Croatia (CNB) emphasized that cryptocurrencies are not considered a legal means of payment, nor are they

recognized as foreign currency or foreign payment instruments. Also, Croatia’s Financial Stability Council informed the public that Croatian

regulators are not responsible for overseeing virtual currency transactions.