Croatia is being the third country that has announced about creating its own self-regulatory organization, after UK and Japan and the second one that has been already implemented the project.

The new self-regulatory organization was named UBIK– the Croatia’s Blockchain and Cryptocurrency Association. The platform was officially registered on 13 February and started its activity since 17 February 2018.

Everything happens under the supervision of the Central Office of Tax Administration in Croatia. They have organized a professional meeting to discuss about the new proposals of the UBIK Association. These were based on the implementation of a regulation related to the creation of the new ICOs, the cryptocurrency usage and the mining centers releases.

The idea of the UBIK project came taking into account the significant increase in the use of blockchain technology both in Croatia and abroad. The basic team consists of seven members. These are developers, crypto writers and blockchain specialists.

After the official platform’s opening announcement, over 70 members have joined UBIK. The host of the Bitcoin Group Zagreb meetup, Nicola Škorić mentioned that UBIK wants to attract numerous startup projects and to support them with any detail.

Also, Nicola Škorić told to a national media that “We want your startups to be registered as Croatian companies and that the capital collected comes directly to Croatia, to expand the database of experts who can work on this technology, to create a pool of knowledge and competence, […] reinforcing the industries that work on the Blockchain.”

It seems that this month is all about the new self-regulatory organizations. On 13 February 2018, seven major influential cryptocurrency exchanges joined together to form CryptoUK– the first of its kind organization. Then, on 16 February 2018 Japan has announced that a national regulatory organization is going to be launched in April 2018.

The main objectives of these self-regulatory organizations are to educate the community about the blockchain system as well as to protect them from any negative consequences. Also, the plans include the development of digital technologies in every country.