Montenegro Crypto Hub Ambitions Hindered by Regulatory Gaps

Montenegro seeks EU crypto hub status but lacks MiCA-aligned licensing, deterring institutional capital despite high transaction volumes.

Woofun AI reports that Montenegro aims to establish itself as a European blockchain hub, yet the absence of a comprehensive legal framework limits institutional adoption. Prime Minister Milojko Spajić advocates for this transformation, but current regulations rely primarily on anti-money laundering provisions rather than a dedicated licensing regime. Early 2025 amendments introduced registration requirements for service providers under the Capital Market Authority, though this mechanism does not equate to approval under the EU's MiCA framework.

Lana Vukmirović Mišić of JPM & Partners noted that a client abandoned a crypto payment project due to these regulatory uncertainties. Research by the Balkan Investigative Reporting Network indicates approximately $2.17 billion in cryptocurrency transactions occurred via Montenegrin-linked wallets between late 2021 and late 2022, largely through unregistered channels. As part of its EU accession process, Montenegro must align with MiCA, while public awareness remains low, with over 93% of citizens reporting limited knowledge of cryptocurrencies.