Quick Answer
Crypto is legal to own and trade, but not use.
- Owning and trading crypto is permitted for individuals and entities.
- Using crypto for payments is banned; merchants face fines.
Legal Status of Crypto in Moldova
Cryptocurrency in Moldova occupies a complex legal space where it is legal to own and trade digital assets, but using them for payments is strictly prohibited. This dual approach stems from the National Bank of Moldova's desire to balance innovation with caution, mitigating risks like money laundering while still allowing investment. The regulatory environment is shaped by AML/CFT laws and oversight from authorities like the National Bank, though advanced crypto products remain in a legal gray area due to a lack of specific rules.
Current Regulations
As of 2025, Moldova’s regulations create a dual environment where owning and trading cryptocurrencies is permitted, but using them for payments is strictly forbidden. The National Bank of Moldova (NBM) supervises trading activities and has long warned about the associated risks of virtual currencies. While there is no dedicated crypto-specific legal framework, profits from converting crypto to fiat are taxed at 12%, and transactions exceeding €10,000 annually must be reported to authorities.
Regulatory Authorities
Several key authorities collaborate to oversee Moldova's evolving crypto landscape.
- National Bank of Moldova (NBM): The NBM forbids the use of crypto for payments but permits trading and investment, advising on financial stability and researching a potential digital currency. It also supervises banks for AML/CFT compliance and warns the public about the risks of virtual currencies.
- Financial Market Authority (FMA): This authority supervises foreign exchange and enforces basic Anti-Money Laundering (AML) rules for crypto trading platforms and exchanges. As of 2025, it has not yet developed a specific, comprehensive framework for cryptocurrencies.
- Ministry of Economy & Digitalization: The ministry spearheads the country's digital transformation, which includes supporting private sector experiments with blockchain and DeFi. It also organizes events like the Moldova Digital Summit to encourage dialogue on fintech.
- Service for Prevention and Fight of Money Laundering (SPCML): Acting as Moldova's Financial Intelligence Unit (FIU), the SPCML is responsible for receiving and analyzing suspicious transaction reports involving virtual assets. It coordinates with other agencies to combat financial crimes in the crypto sector.
- General Inspectorate of Police: Within this body, the Centre for Combating Cybercrime is a specialized unit that identifies unauthorized virtual asset service providers (VASPs). It is also responsible for investigating crypto-related criminal offenses.
Historical Context
Moldova's crypto journey began with caution. In 2017, the National Bank of Moldova warned of the risks of virtual currencies. A major policy shift followed in 2018, when the country allowed crypto trading but banned its use for payments. This ban was strictly enforced with fines starting in 2022. By 2023, the focus turned to security, with stronger AML enforcement and fraud investigations. In stark contrast, the breakaway region of Transnistria legalized crypto mining in 2018, creating a permissive zone that attracted foreign investment and highlighted the country's divided regulatory approach.
Compliance Requirements for Businesses in Moldova
Businesses in Moldova must adhere to a stringent regulatory framework designed to combat money laundering and terrorist financing (ML/TF). The government's compliance requirements, detailed in reports from bodies like MONEYVAL, are comprehensive and strictly enforced. Key obligations include:
- AML & KYC Checks: The cornerstone of compliance is Customer Due Diligence (CDD), which mandates that businesses identify and verify their customers and beneficial owners. This Know Your Customer (KYC) process is essential for preventing fraud and terrorism financing. To modernize this requirement, Moldova is developing an eKYC platform for secure remote identity verification. Beyond initial checks, firms must conduct ongoing monitoring and apply enhanced due diligence for high-risk clients, such as Politically Exposed Persons (PEPs).
- Beneficial Ownership Transparency: Legal entities are required to obtain, record, and submit up-to-date information on their beneficial owners to the Public Service Agency (PSA). If a business discovers a discrepancy between its own records and the official register, it must be reported and resolved.
- Record-Keeping and Reporting: All transaction and CDD records must be maintained for at least five years after the end of a business relationship. Furthermore, any suspicious transactions must be promptly reported to the Service for Prevention and Fight of Money Laundering (SPCML).
- Risk-Based Approach: Before launching new products, services, or technologies, companies must assess and document potential ML/TF risks and implement appropriate mitigation measures.
- Sanctions and Prohibitions: Non-compliance can result in severe administrative and criminal sanctions, including fines, forced liquidation, and imprisonment. The regulations also enforce specific prohibitions, such as a ban on issuing bearer shares and a general restriction on providing virtual asset services.
Why this matters for Cross-Border Payments
Moldova's complex regulatory landscape creates significant hurdles for businesses engaged in cross-border payments. The strict prohibition on using crypto for transactions forces companies to rely on traditional banking channels, which can be slower and more costly for international settlements. Furthermore, the intensive AML and KYC compliance demands add operational overhead and can introduce delays, creating friction for foreign entities accustomed to more streamlined financial systems.
How Lightspark Enables Compliant Crypto-Native Payments
Lightspark offers a suite of tools designed to bridge traditional finance with crypto-native payments. Its Lightspark Connect product provides direct access to the Bitcoin Lightning Network, using AI-powered routing for fast, low-cost transactions. Meanwhile, Grid Switch connects domestic real-time payment systems, allowing businesses to send fiat across borders by using the Lightning Network as a settlement layer. Together, these products create a "Money Grid" for instant, global money movement, addressing the high costs and delays of traditional banking.
For regulated institutions navigating Moldova's strict rules, Lightspark provides essential infrastructure. Features like audit-ready reporting, flexible custody options, and developer-friendly APIs with built-in compliance integrations help businesses meet their AML/KYC and reporting obligations. This enables them to leverage modern payment rails while adhering to complex regulatory requirements, without Lightspark directly handling their compliance for them.
Learn more about Lightspark’s solutions for instant, global payments.
Notice: This article is provided for informational purposes only and does not constitute legal advice.
Sources
- Chakrawarty, Shweta. “Crypto Regulations in Moldova.” Coinfomania, 22 June 2025, coinfomania.com/crypto-regulations-in-moldova/.
- Cojocaru, Marina. “Moldova Launches the Development of the eKYC Platform.” Economic Council to the Prime Minister of the Republic of Moldova, 11 June 2025, consecon.gov.md/en/2025/06/11/moldova-launches-the-development-of-the-ekyc-platform/.
- Council of Europe, Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL). Anti-money laundering and counter-terrorist financing measures Republic of Moldova 3rd Enhanced Follow-up Report & Technical Compliance Re-Rating. MONEYVAL, May 2025, rm.coe.int/moneyval-2025-3-md-5th-round-3rd-enhanced-fur/1680b66aef.
- “Moldova & Cryptocurrency | Blockchain & Cryptocurrency Laws & Regulations.” Freeman Law, freemanlaw.com/cryptocurrency/moldova/.
- National Bank of Moldova. “Virtual Currency and Its Associated Risks.” National Bank of Moldova, 10 July 2017, www.bnm.md/en/content/virtual-currency-and-its-associated-risks.
- Simcord LLC. Bitbon System Public Contract. www.bitbon.space/en/bitbon-system-public-contract.
