Quick Answer
Yes, cryptocurrency is legal in Romania but strictly regulated.
- Providers must follow strict anti-money laundering (AML) and KYC rules.
- Gains from crypto transactions are subject to a 10% income tax.
Legal Status of Crypto in Romania
Cryptocurrency is legal in Romania, but it operates within a complex and evolving regulatory landscape that some sources describe as a regulatory gray area. This status is primarily because national laws, such as Law no. 129/2019, have focused on transposing EU Anti-Money Laundering directives, leaving other aspects of crypto activity less defined until the full implementation of the EU's Markets in Crypto-Assets (MiCA) regulation. Consequently, providers must adhere to strict AML and KYC compliance requirements overseen by authorities like the National Office for Prevention and Control of Money Laundering and the National Bank of Romania.
Current Regulations
Romania's current crypto regulations are primarily built on two pillars: national anti-money laundering (AML) laws and the European Union's Markets in Crypto-Assets (MiCA) regulation. The main domestic legislation is Law No. 129/2019, which transposes the EU's AML directives and requires crypto exchange and digital wallet providers to register with the government and adhere to strict compliance rules. This national framework is now complemented by the EU's MiCA regulation, which creates a harmonized licensing regime for crypto-asset service providers (CASPs) operating within the EU, including Romania. These regulations collectively require providers to obtain authorization, implement robust KYC procedures, and report suspicious transactions to prevent illicit financial activities.
Regulatory Authorities
Several regulatory bodies in Romania share the responsibility of overseeing the crypto landscape.
- Financial Surveillance Authority (ASF):As a national competent authority, the ASF is responsible for overseeing and authorizing crypto-asset service providers (CASPs). It has the power to conduct inspections, request compliance information, and impose sanctions.
- National Bank of Romania (BNR):The BNR supervises credit and electronic money institutions that provide crypto-asset services, focusing on financial stability. It works alongside the ASF to monitor and supervise CASPs, particularly those that are also credit institutions.
- National Office for the Prevention and Combating of Money Laundering (ONPCSB):This body is Romania’s Financial Intelligence Unit, making it central to AML/CFT compliance. It receives and analyzes suspicious transaction reports from crypto providers to prevent money laundering and terrorist financing.
- National Agency for Tax Administration (ANAF):The ANAF is responsible for all tax-related matters concerning digital assets. It ensures the proper declaration and taxation of income generated from cryptocurrency transactions and may conduct audits to verify compliance.
- National Authority for Consumer Protection (ANPC):This authority safeguards the rights of individuals engaging with crypto assets. It ensures that crypto-related products, services, and marketing comply with consumer protection laws.
Historical Context
Romania’s crypto regulation began with early steps like officially recognizing blockchain professions in 2011. A major policy shift occurred in 2019 with Law No. 129/2019, which established the first anti-money laundering (AML) framework for crypto providers. This was tightened in 2020 by GEO No. 111/2020, mandating authorization for exchanges and wallet providers. The most recent shift involves aligning with the EU’s Markets in Crypto-Assets (MiCA) regulation, which began applying in 2024. This move from a national AML focus to a comprehensive EU framework has increased compliance burdens but also provided greater market clarity and legitimacy, improving cooperation between crypto firms and banks.
Compliance Requirements for Businesses in Romania
Under Romanian Law no. 129/2019, which aligns with EU directives, businesses must adhere to a strict set of compliance rules. These regulations are designed to prevent financial crimes and require companies to implement a robust framework for monitoring and reporting. The core obligations revolve around anti-money laundering (AML) checks, customer due diligence, and several other mandatory internal procedures.
Essential AML Checks
- Risk Assessments: Businesses must perform and document both internal and client-level risk assessments to identify and mitigate potential money laundering threats based on customer profiles, services, and geography.
- Customer Due Diligence (CDD): Companies must implement Know Your Customer (KYC) rules to identify and verify all clients and their ultimate beneficial owners (UBOs) before establishing a business relationship.
- Reporting Suspicious and Large Transactions: Firms are required to file reports with the National Office for Prevention and Control of Money Laundering (ONPCSB) for any suspicious transactions and for all cash transactions exceeding the equivalent of €10,000.
- Record-Keeping: All identification documents, transaction records, and due diligence measures must be kept for at least five years after a business relationship ends.
- Appointing AML Officers: A designated officer must be appointed to oversee the AML compliance program and act as the point of contact with the ONPCSB.
- Prohibiting Certain Relationships: Credit institutions are explicitly forbidden from entering into or maintaining relationships with shell banks.
Know Your Customer (KYC) Requirements
- Identity Verification: Verify the identity of every client and UBO using reliable, independent documents. For corporate clients, this includes understanding the ownership and control structure.
- Understand Business Purpose: Obtain information on the purpose and intended nature of the business relationship to establish a baseline for normal activity.
- Ongoing Monitoring: Continuously monitor business relationships and transactions to ensure they are consistent with the client's risk profile and to keep all documentation up to date.
- Apply a Risk-Based Approach: Use standard, simplified, or enhanced due diligence based on the client's risk profile. Enhanced due diligence is mandatory for high-risk situations, such as dealing with politically exposed persons (PEPs) or clients from high-risk countries.
Other Mandatory Procedures
- Internal Policies: Establish and implement comprehensive internal policies, controls, and procedures for everything from risk management to reporting and record-keeping.
- Staff Training: Provide regular and ongoing AML training to all relevant employees to ensure they can detect and report suspicious activity correctly.
- Independent Audits: Medium-to-large companies are required to have an independent audit function to periodically review and test the effectiveness of their AML program.
- Prohibition of "Tipping Off": Employees are strictly forbidden from informing a client that a suspicious transaction report has been filed or that an investigation is underway.
- Transaction Freezing: Upon reporting a suspicious transaction, entities must refrain from executing it until they receive clearance from the authorities.
Why this matters for Cross-Border Payments
For businesses conducting cross-border payments between Romania and India, these stringent regulations introduce a significant layer of scrutiny, subjecting every transaction to rigorous AML and KYC protocols. This can lead to processing delays as financial institutions verify identities and transaction purposes, creating a notable pain point for time-sensitive payments. Ultimately, the increased compliance overhead and risk of payment friction can complicate international operations, requiring businesses to navigate the complex regulatory demands of both countries.
How Lightspark Enables Compliant Crypto-Native Payments
Lightspark offers a global payments infrastructure built on Bitcoin's Lightning Network for instant, low-cost money movement. Its core products, Lightspark Connect and Grid Switch, provide on-ramps to this network. Connect enables native Bitcoin payments, while Grid Switch allows access using domestic real-time payment systems for fiat-to-fiat transfers without direct crypto interaction. This dual approach bridges traditional finance with decentralized technology, addressing the friction of cross-border transactions.
For regulated institutions, these tools help facilitate compliance. Grid Switch, for example, allows banks to offer instant global payments while navigating complex rules by abstracting the crypto settlement layer. The platform provides audit-ready reporting and built-in features for travel rule and OFAC screening, helping businesses meet the stringent AML/KYC requirements seen in jurisdictions like Romania and easing the operational burden of traditional cross-border payments.
Visit Lightspark to learn more about their solutions for instant, compliant global payments.
Notice: This article is provided for informational purposes only and does not constitute legal advice.
Sources
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- Constantinescu, Razvan. "Romania to introduce stricter compliance rules for crypto-asset service providers." Kinstellar, Kinstellar, Sep. 2024, www.kinstellar.com/news-and-insights/detail/2969/romania-to-introduce-stricter-compliance-rules-for-crypto-asset-service-providers.
- Pirtea, Simona, and Mădălin Enache. "Anti-Money Laundering Laws and Regulations Report 2025 Romania." International Comparative Legal Guides, Global Legal Group, 19 May 2025, iclg.com/practice-areas/anti-money-laundering-laws-and-regulations/romania.
- Reichmann, Cristina, and Mircea Ciuta. "CMS Expert Guide to Crypto Regulation in Romania." CMS Law, CMS, 24 May 2024, cms.law/en/int/expert-guides/cms-expert-guide-to-crypto-regulation/romania.
- "Romania and Cryptocurrency | Blockchain and Cryptocurrency Regulations." Freeman Law, freemanlaw.com/cryptocurrency/romania/.
- Stanescu, Alexandru, et al. "Blockchain 2025 - Romania." Chambers and Partners, 12 June 2025, practiceguides.chambers.com/practice-guides/blockchain-2025/romania/trends-and-developments.
- Vasilescu, Sergiu-Traian, et al. "Blockchain & Cryptocurrency Laws and Regulations 2025 – Romania." Global Legal Insights, Global Legal Group, 25 Oct. 2024, www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/romania/.
