Is Crypto Legal in North Macedonia?

Cryptocurrency is legal in North Macedonia, though it operates in a regulatory gray zone where digital assets are neither prohibited nor officially recognized as legal tender. In October 2020, the Minister of Finance announced that virtual assets would be governed by law, with the Ministry of Finance working alongside the Financial Intelligence Office and financial regulators to determine all aspects arising from cryptocurrencies (2). Solutions were implemented in the amended Law on Money Laundering and Financing of Terrorism adopted in February 2022 (2).

The National Bank of the Republic of North Macedonia has issued warnings about the risks associated with cryptocurrency investments, noting that the volatility of cryptoassets is significantly higher compared to other financial and non-financial assets such as foreign exchange rates or stock returns (1). The high risk comes from dramatic market price changes both upwards and downwards, with Bitcoin historically registering daily changes above usual market fluctuations in stock indices (1). The Bank emphasized that individuals investing in cryptoassets should be aware that their value can also be zero (1).

"The usage of virtual assets as representations of value known as cryptocurrencies will be governed by law. Solutions will be implemented in the new Law on Money Laundering and Financing of Terrorism."

Operational risks include cyber threats and hacking attacks, as well as money laundering and terrorist financing concerns due to the high level of anonymity in certain cryptoasset transactions (1). The National Bank urged potential investors to differentiate between central bank digital currencies and cryptocurrencies issued by private entities whose value is pegged to sovereign currencies, known as stablecoins (1). The government is working on legislation aligned with EU standards, particularly the Markets in Crypto-Assets framework, aiming to license exchanges by 2025-2026 (2).

Source:
https://www.nbrm.mk/ns-newsarticle-koi-se-rizicite-od-vlozuvane-vo-kripto-sredstva-en.nspx
https://arhiva.finance.gov.mk/besimi-the-usage-of-cryptocurrencies-to-be-governed-by-law/?lang=en

Last updated: 19-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.