Croatia’s Blockchain and Cryptocurrency Association (UBIK), is a self-regulatory organization registered Feb. 13 with the goal of creating a crypto community, educating the public, and developing regulation in Croatia. It has officially begun working yesterday, Feb. 17, according to the UBIK blog.
The governing board of UBIK already met with the Central Office of Tax Administration in Croatia on Feb. 9 to discuss the issues covering the taxation of crypto as a capital gain, the regulations of Initial Coin Offerings (ICO), and the business of crypto mining companies. The Croatian Bitcoin Portal writes that the members of the Tax Administration showed a willingness to openly engage with finding solutions to issues that fall under tax law.
The idea behind UBIK was prompted by the rising use of Blockchain in both Croatia and across the globe. Its founding members are made up of a variety of Croatian Blockchain enthusiasts, including Blockchain developers, attorneys specializing in Blockchain, and authors of Blockchain-related books, the Croatian Bitcoin Portal writes.