Bósnia e Herzegovina: tokenização

• Securities Commission of Republika Srpska (Komisija za hartije od vrijednosti Republike Srpske) — Keeps the register (evidencija) of virtual currency service providers in Republika Srpska under art. 260b of the RS Securities Market Law and supervises them for anti-money-laundering compliance; it states it does not issue operating licences.
• Securities Commission of the Federation of BiH (Komisija za vrijednosne papire FBiH) — Named AML supervisor for virtual currency service providers in the Federation under the state AML law (art. 93); as of 27 Oct 2026 it states that no person holds a licence from it for crypto-asset services. It would become the licensing authority under the FBiH draft VASP law (pre-draft, July 2026).
• Brčko District Directorate for Finance (Tax Administration of Brčko District) — Named AML supervisor for virtual currency service providers in Brčko District under art. 93 of the state AML law; no Brčko registration or licensing regime was found.
• Financial Intelligence Department of SIPA (Finansijsko-obavještajno odjeljenje, FOO) — State financial intelligence unit; receives suspicious-transaction and threshold reports from virtual currency service providers, which are obliged entities under the 2024 BiH AML law.
• Central Bank of Bosnia and Herzegovina (CBBH) — Monetary authority; does not regulate crypto. It has publicly stated it never recommends investing in cryptocurrencies and follows the ECB's cautious approach.

No crypto-specific tax rules were found in either entity. In the Federation of BiH, the Tax Administration said in February 2023 (as reported by the FENA news agency) that crypto taxation is not expressly prescribed, and that Ministry of Finance opinions from 2022 treat crypto trading as an independent activity whose income falls under the Law on Income Tax. No official position on crypto taxation was found for Republika Srpska or Brčko District.

• Registration in Republika Srpska is a register entry with AML supervision, not a licence: the RS Securities Commission says it does not issue operating approvals, and RS law states that neither the entity nor the Commission guarantees the value of virtual currencies.
• The RS register covers firms founded in Republika Srpska and branches of firms based elsewhere that provide services in RS; it does not create a licence valid in the Federation of BiH.
• In the Federation of BiH no crypto licence exists yet; the FBiH Securities Commission warned on 27 Oct 2026 that no person holds a licence from it for crypto-asset services and that fraudsters misuse its name.
• Operating in RS without the required notification is a misdemeanour (10,000–50,000 KM for the company, 1,000–5,000 KM for the responsible person), and AML failures can lead to deletion from the register for one year or permanently.
• Client money in RS must sit in a special-purpose bank account that is not part of the provider's assets; deposit insurance and financial-consumer protection rules do not apply to crypto transactions.