In the past few years, virtual currencies have become very attractive to investors across the globe. Their importance for world capital and money flows is constantly growing, which resulted in the need for them to be regulated. That was the precise reason for the Republic of Serbia to adopt the Digital Property Act at the end of last year. Its significance is recognized in defining digital assets for the very first time, thus introducing them into regulated economic flows. However, this Act alone could not resolve all issues and questions related to digital property. For example, the Digital Property Act […]
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The European Commission (“EC”) adopted the Fit for 55 climate action plan on Wednesday, announcing a legislative package that aims to cut carbon emissions in the European Union (“EU”) by 55% by 2030, compared to levels measured in 1990. It also calls for action to make the continent carbon neutral by 2050. The Fit for 55 package includes provisions on expanding the EU Emissions Trading System to charge for carbon emissions in more sectors. Additionally, it proposes Effort Sharing Regulation and prescribes new emissions-cutting targets per Member State. It also calls for an increase in renewable energy sources use, creates […]
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Bogdan Gecić, Managing Partner at Gecić Law, was quoted in Forbes, the leading global business publication, in an article titled “10 Myths About Selling To Customers (And The Real Truth)”. Bogdan was asked to join a panel of experts and share his perspective on sales myths from the point of view of an eminent entrepreneur in the legal and professional services industry. “A big myth is that if you have a great product or service, customers are going to get this and continue buying it. Although such revolutionary ideas do come about, they are rare and businesses still need to […]
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The last decade has completely changed the way we do business. Developments in technology have led to tremendous progress in nearly all sectors, leading to previously unknown issues in the process. One of the questions raised is how to protect business secrets in the knowledge economy. Recognizing the problem, the National Assembly of the Republic of Serbia, after nearly a decade, passed a new Protection of Business Secrets Act (“the Act“). The Act was passed on May 27, 2021 and entered into force on June 5th this year. The Act harmonizes Serbian regulations with the regulations of the European Union. […]
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In the Republic of Serbia, agricultural policy is based on the Act on Agriculture and Rural Development and the Act on Incentives in Agriculture and Rural Development. However, none of these two acts enable the regulation of the agricultural products market and the introduction of new market regulation mechanisms, which are necessary to help Serbian agriculture maintain steady development. Market mechanisms in the Republic of Serbia are not in accordance with the common EU market organization. Serbia lacks a similar unique legal framework to implement most measures of market regulation. In order to harmonize further with mechanisms in the EU, […]
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Crypto, crypto, crypto…Wherever you go, whoever you talk to, crypto must be mentioned. In the last few years, and especially in the last few months, virtual currencies and digital tokens have seen a true expansion. More and more people are getting interested in crypto and are starting to trade in them. As a result, the importance of cryptocurrencies is rising. “New” business and new earnings? Naturally, corporate giants recognized the upward trend and did not want to miss this “historical moment” to create a completely new way of doing business by entering a new market that generates huge profits. Recently, […]
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At the event hosted by the API/IPA international press association, Slovenia revealed the priorities of its upcoming presidency of the Council of the EU and the Fit for 55 legislative package stole the spotlight all for itself. Before leaning into the story of Fit for 55, let us make a quick turn to the conference held just a few days ago. Slovenia is taking over the Council of the EU presidency for the next six months. The country’s Permanent Representative to the EU Mr. Iztok Jarc and his deputy Ms. Tamara Weingerl-Požar laid out the priorities of the presidency. Of […]
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This year will bring big changes, at least when it comes to financial markets. Namely, 2021 is when the long-awaited abolition of LIBOR will take place. Although there was a lot of talk about technical obstacles that need to be overcome, change was seemingly inevitable. LIBOR (London Interbank Offered Rate) is the daily reference interest rate at which banks lend to each other on the interbank market. It gained in importance in the 1990s, when the British Banking Association (“BBA”) settled relevant standards of regulation, the collection and analysis of data obtained, which will serve as a basis for calculating […]
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The topic of data protection and Big Tech keeps on giving. It appears the subject of data protection simply does not want to leave the main stage and wishes to remain in everyone’s center of attention. This should not come as a surprise, since the world is only starting to become more integrated in terms of digital services provided by Big Tech companies. The most recent “controversy” on data protection and Big Tech comes from Germany, or to be more precise, Hamburg’s Commissioner for Data Protection (“Commissioner”). The Commissioner investigated Facebook’s use of personal data gathered from WhatsApp users and […]
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In the process of gradually aligning its legislation with the EU acquis the Government of the Republic of Serbia adopted two bylaws on 11 March 2021 in the field of state aid, complementary to the recently adopted new State Aid Control Act. All this adds value to the start of talks on the Chapter 8 – Competition Policy of Serbia’s negotiation process and may speed up Serbia’s EU accession. Regional Aid Regulation This regulation is designed to promote economic development of the least developed regions or the development of regions with a high level of unemployment. It also allows state […]
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