Understanding the regulatory landscape for cryptocurrency in Romania
Romania is quickly becoming an active hub for crypto innovation. Startups and investors are exploring blockchain applications in finance, identity, and smart contracts. Although cryptocurrency is legal in Romania, it is not without regulatory oversight.
Crypto companies in Romania must comply with both EU regulations and national laws. These rules focus on licensing, consumer protection, and anti-money laundering (AML). For businesses and investors, staying informed and compliant is essential to safeguard operations and avoid legal or financial risks.
Is cryptocurrency legal in Romania?
Yes—individuals and companies can legally use, hold, trade, and develop cryptocurrency in Romania. However, under the Markets in Crypto-Assets Regulation (MiCA), which takes full effect in 2025, crypto-asset service providers (CASPs) must meet specific registration and conduct standards.
In response, Romania has adopted mechanisms to enforce MiCA. All players in the crypto space must comply with transparency, capital, and reporting rules. This includes exchanges, custodial wallet providers, ICO platforms, and fintech projects dealing with tokenised assets.
Registration and licensing obligations for cryptocurrency businesses
Who needs to register as a crypto-asset service provider (CASP)?
Companies offering crypto-related services—such as buying, selling, storing, or managing crypto assets on behalf of users—are required to register with a national authority, likely under the supervision of the Financial Supervisory Authority (ASF) or in coordination with the National Bank of Romania, depending on the services involved.
To obtain authorisation, applicants must prove legal incorporation, financial stability, AML compliance, and clear internal policies for risk, cybersecurity, and client data protection. The regulatory framework draws on MiCA and aligns with Romania’s existing financial services legislation.
AML compliance under Romanian law
AML rules are a cornerstone of crypto regulation. In Romania, Law No. 129/2019 on anti-money laundering fully applies to crypto exchanges and wallet providers. These businesses are legally required to implement AML programs under the EU’s 5th AML Directive.
To comply with AML regulations, crypto companies must:
- Conduct Know Your Customer (KYC) procedures
- Monitor transactions and flag suspicious activity
- Designate a compliance officer responsible for AML reporting
- Register with the National Office for Preventing and Combating Money Laundering (ONPCSB)
Failing to comply can result in fines, license suspension, or even criminal investigation—especially for not reporting suspicious behaviour or failing regulatory audits.
Taxation of digital assets in Romania
Crypto transactions are taxed in Romania based on their type and the status of the party involved. Individuals pay a flat 10% income tax on crypto gains, though annual earnings under RON 600 are exempt.
Companies treat crypto-related income as business revenue, subject to standard corporate tax. In some cases—such as crypto-mining or the sale of tokenised goods—VAT may also apply.
Romania’s tax authority, ANAF, has stepped up efforts to detect undeclared crypto profits. As a result, non-compliant taxpayers face audits, penalties, and interest.
Legal risks for blockchain startups in Romania
Startups working on blockchain platforms—such as DeFi protocols, NFT marketplaces, or smart contract applications—must be aware of broader legal issues beyond crypto licensing.
Token classification and cross-border impact
The type of token used significantly influences the legal obligations of a startup. Utility tokens, security tokens, and e-money tokens are each subject to different rules. If a token functions like a financial instrument or investment product, the business may fall under additional regulatory scrutiny by ASF or ESMA.
Startups must also assess how their products interact with consumer protection law, particularly when offering returns, trading mechanisms, or user deposits. Smart contract enforceability is another key issue, especially in cross-border contexts where traditional contract principles may be challenged.
In all cases, it is essential to ensure GDPR compliance, especially if the blockchain solution processes personal data or biometric identifiers.
Conclusion: cryptocurrency law in Romania is evolving—compliance is critical
As Romania integrates the full scope of MiCA, AML regulations, and tax enforcement, startups and investors in the crypto space must adopt a structured legal strategy. From obtaining authorisation as a CASP to managing AML risks and structuring smart contracts legally, compliance is now fundamental to success and long-term viability.
At Iorgulescu-Legal, we support crypto ventures, fintech innovators, and tech investors in navigating Romania’s regulatory landscape—combining legal rigour with a deep understanding of emerging technologies.