Crypto Overview in Romania

Regulatory data is for informational purposes only and may not reflect the most current legal developments. Always consult qualified professionals before making decisions.

Legal Classification & Regulatory Framework

Cryptocurrency Status

Cryptocurrencies are legal in Romania but do not have legal tender status. Under Government Emergency Ordinance (GEO) 10/2025, which took effect in March 2025, crypto-assets are defined as digital representations of value or rights transferred and stored electronically via distributed ledger technology. They are treated as intangible movable property rather than financial instruments, unless they meet specific criteria such as tokenized securities.

Romania’s Criminal Code classifies digital currencies as “means of payment without cash,” a classification introduced in 2019 following the transposition of EU Directive 2019/713 on combating fraud involving non-cash payment instruments. Under the EU Markets in Crypto-Assets (MiCA) framework, crypto-assets in Romania fall into the standard three categories: asset-referenced tokens (ARTs), e-money tokens (EMTs), and other crypto-assets. Direct crypto payments between parties are permissible by mutual agreement, though most merchant adoption relies on third-party conversion services to Romanian lei (RON).

Tax Treatment

Romania’s crypto tax landscape has undergone significant changes. Crypto gains are classified as “income from other sources” under the Fiscal Code rather than traditional capital gains. The standard income tax rate was 10%, but Parliament approved a temporary exemption from November 2024 through July 2025. From January 2026, the rate increases to 16%, as approved by the Constitutional Court.

A de minimis threshold applies: single transaction gains under 200 RON are not taxable unless total annual crypto earnings exceed 600 RON. The Social Health Insurance Contribution (CASS) of 10% may also apply when total annual non-salary income, including crypto, exceeds six times the gross minimum wage. All crypto earnings must be declared in annual income statements filed with the National Agency for Tax Administration (ANAF). Corporate tax on crypto profits follows the standard 16% rate with no crypto-specific provisions. ANAF has not yet released detailed guidance on cost basis calculation methods, DeFi yields, staking rewards, or airdrops.

Regulatory Oversight

Romania operates a multi-authority supervisory framework for crypto-assets, restructured significantly by GEO 10/2025. The Financial Supervisory Authority (ASF) serves as the primary national competent authority under MiCA, responsible for licensing and supervising crypto-asset service providers (CASPs), including exchanges, custodians, trading platforms, and ATM operators. The National Bank of Romania (BNR) supervises credit institutions and e-money institutions offering crypto services, with particular oversight of asset-referenced tokens and e-money tokens.

Additional authorities include ANAF for tax compliance, the National Office for Prevention and Combating Money Laundering (ONPCSB) as the financial intelligence unit, and the Authority for the Digitalization of Romania (ADR), which provides mandatory technical security evaluations before ASF licensing. Licensed CASPs must pay a supervisory fee of 0.5% of monthly operating income to ASF, with failure to pay potentially resulting in automatic license revocation.

Business Environment

Banking Relationships

Access to banking services for crypto businesses in Romania has historically been challenging. Traditional banks viewed cryptocurrency operations as high-risk and a potential reputational liability. This reflects a broader European pattern, with industry surveys indicating that a large majority of crypto companies face difficulty securing merchant bank accounts.

However, structured cooperation between CASPs and financial institutions is beginning to emerge. The regulatory clarity provided by MiCA, combined with the reclassification of CASPs as financial institutions under GEO 10/2025, gives traditional banks a clearer framework for engaging with licensed crypto businesses. The BNR maintains jurisdiction over bank-provided crypto services, creating a regulatory link between banking and the crypto industry. The central bank acknowledges that crypto-assets do not currently represent a threat to financial stability in Romania, though it characterizes them as speculative and volatile.

Licensing Requirements

Under GEO 10/2025, all crypto-asset service providers must obtain ASF licensing. The application process requires obtaining a technical security evaluation from ADR, maintaining clean tax and criminal records, updating corporate registration to include crypto services, and submitting a formal application to ASF, with review estimated at three to four months.

MiCA capital requirements apply: EUR 50,000 for advisory services, EUR 125,000 for custody and exchange operations, and EUR 150,000 for trading platforms. Entities lawfully operating before December 30, 2024 may continue under a grandfathering provision until July 2026, but must notify ASF by November 30, 2025 and submit formal license applications between December 2025 and July 2026. After July 2026, only MiCA-licensed providers may operate. EU-authorized CASPs can passport into Romania but must designate a local single point of contact.

Innovation Support

Romania has invested in blockchain infrastructure through several government-backed initiatives. The National Blockchain Network, led by ICI Bucharest (the National Institute for Research and Development in Informatics), has been under development since 2018 to support blockchain implementation across state institutions and industry. In April 2023, ICI Bucharest launched ICI D|SERVICES, described as the first European institutional digital asset trading platform, built on the MultiversX blockchain network. Romania also participates in the European Blockchain Services Infrastructure (EBSI) through the EBSI4RO project.

Both the BNR and ASF operate FinTech Innovation Hubs that facilitate dialogue between innovators and regulators, though neither constitutes a formal regulatory sandbox with temporary exemptions. The BNR has also conducted a small-scale central bank digital currency (CBDC) pilot as part of the European Central Bank’s broader digital euro initiative. Romania hosts the annual Romania Blockchain Summit, one of the largest blockchain events in Eastern Europe.

Market Characteristics

Adoption Patterns

Romania’s crypto market is growing but remains relatively small in scale. The ONPCSB’s 2024 sectoral risk assessment revealed that only 36 VASP activity notifications were received between 2021 and 2024, with only 12 of 31 responding entities confirming actual VASP-specific activities. A 2022 National Risk Assessment identified just five to six active VASP entities in Romania. Consumer interest is strong, however, with the temporary tax exemption in late 2024 reflecting political recognition of cryptocurrency’s growing popularity among Romanian investors.

Industry Focus

Romania has a notable technical talent pool that contributes to the global blockchain ecosystem. The country was home to the founding team of MultiversX (formerly Elrond), one of the prominent European blockchain platforms. Bucharest serves as a hub for blockchain development talent, and institutional interest is growing with the government’s national blockchain infrastructure projects. The country’s early MiCA implementation has been characterized as creating one of the EU’s more business-friendly crypto regulatory environments, potentially positioning Romania to attract licensed CASPs looking for EU market access.

Regulatory Evolution

Romania’s regulatory trajectory shows a pattern of delayed but ultimately comprehensive action. The country was formally notified by the European Commission in 2020 for failing to transpose the Fifth Anti-Money Laundering Directive on time, only achieving full alignment through GEO 10/2025 in March 2025. Despite this history, Romania moved quickly on MiCA implementation, with GEO 10/2025 recognized as one of the fastest national transpositions in the EU.

The MONEYVAL 5th round mutual evaluation (report adopted May 2023) placed Romania under enhanced follow-up, with the May 2025 follow-up report finding only “limited progress” in strengthening AML/CFT frameworks. Romania’s National AML/CFT Strategy 2025-2030, released in draft form in July 2025, specifically addresses VASPs as a high-risk sector. Parliament is also debating Project L15/2025 to address outstanding MONEYVAL findings. The ASF is still finalizing detailed implementing regulations, meaning that while the legal framework is operational, some procedural details continue to evolve.

For Current Information:

• Financial Supervisory Authority (ASF)
• National Bank of Romania (BNR)
• National Agency for Tax Administration (ANAF)
• National Office for Prevention and Combating Money Laundering (ONPCSB)
• Authority for the Digitalization of Romania (ADR)