Once, Romania’s cryptocurrency was a landscape of the digital Wild West. Amidst this evolution, in the year 2025, regulation will now suffice for all innovation at the edge of practice. All that remains are the watchful eyes of financial guardians regulated by the National Bank of Romania (BNR) and the Financial Supervisory Authority (ASF).
In Romania first cryptocurrency trading started around 2012-2014, following the rise of Bitcoin internationally at that time. Early adopters and tech-savvy investors used to trade on international platforms like LocalBitcoins and Bitstamp because there was no local exchange yet in Romania. By 2017-2018, the first Romanian crypto exchanges (e.g., BTCXchange, ZexyaPay) emerged during Bitcoin’s bull runs.
Romania’s trading in cryptocurrencies has been on the increase, with almost 30% more users since the start of 2023, and it is expected to end in 2025 with an estimated $710.6m revenue that would enhance fintech innovation and tax revenue. It shows Romania as a country as one of the more advanced countries in the digital economy in Europe.
Historical Context
Romania’s journey with cryptocurrency regulation has been gradual:
Earlier (pre-2020): No particular laws on cryptocurrencies were in a legal grey area.
2020-2023: The Romanian National Bank (BNR) and the Financial Supervisory Authority (ASF) began monitoring crypto activity while issuing warnings about the risks.
2024-2025: New regulations were adopted which focused on anti-money laundering, taxation and licensing of the crypto businesses.
Romania is not a tax-free crypto haven like some European countries (e.g., Portugal, Malta), but its rules are becoming more structured.
Regulatory Framework
Romania’s cryptocurrency regulations in 2025 are shaped by:
European Union’s MiCA: Romania aligns with EU-wide crypto rules for consistency.
BNR & ASF Oversight: These bodies supervise crypto exchanges and enforce AML laws.
Taxation:
Income Tax: Cryptographic profits are taxed at 10% (For Individual) if held for less than a year.
Capital Gains for Long-term Holding: No profit tax if they had been held for more than a year (similar to capital gains).
Business Tax: Crypto companies have to adhere to corporate tax laws (16% flat rate).
Romania’s Crypto Policies
Romania enforces a support-driven regulatory approach nurturing innovation with adequately channelled risks. Key policies include:
1. Licensing & Supervision
Mandatory ASF Registration: The Financial Supervisory Authority (ASF) will supervise and regulate all crypto exchange custodial services, wallet services, and other value storage operatives.
BNR Surveillance: The National Bank of Romania ensures a widescale reality checking and stabilizing global financial system.
2. Anti-Money Laundering (AML) Rules
KYC Enforcement: To enable all transactions above €1,000, one must verify their identity first.
Travel Rule Compliance: Crypto firms are required to share data pertaining to both sender and receiver in case a deal surpasses a certain value when it upholds travel rule compliance.
3. Investor Safeguards
Scam Prevention: The ASF blacklists unauthorized platforms and issues public warnings.
Fraud Monitoring: Enhanced tracking of suspicious transactions using blockchain analytics.
4. Restrictions on Privacy Coins
Ban on Anonymous Cryptos: Privacy-focused coins like Monero (XMR) and Zcash (ZEC) are restricted from licensed exchanges.
Romania, unlike tax-free havens (e.g., Portugal, Malta) does apply some very clear yet reasonable crypto taxes, hence legal certainty for the investor.
Romania’s Approach to Crypto Innovation
Romania promotes blockchain technology while keeping risks in check. The government helps fintech startups with special funding and test environments. Universities now teach blockchain to prepare future experts.
The central banks are currently exploring how they can set up digital models within their frameworks, and this is being witnessed here in Romania, with the BNR delving into creating such an instrument called the digital leu, looking to modernize its payment instruments. Hurdles such as the strict compliance requirements and licensing limitations have slowed crypto startup growth when compared with other EU nations, such as Malta and Germany.
Main Challenges and Problems
Despite progress, Romania faces hurdles such as:
Regulatory Complexity: Romania must align multiple EU frameworks, which adds complexity for providers and users
Tax Clarity: Crypto is taxable under current law, but distinctions between long-term holdings and business income remain unclear. A recent move to exempt gains stalled
Licensing Delays: Licensing system for exchanges/wallets has been incomplete since the 2022 drafts
Enforcement Consistency: ANAF’s strict crypto tax checks seem unpredictable.
Important Regulatory Shifts and Future Prospects
Regulation in the crypto arena in Romania is going through a spin, as it tries to fall in line with EU laws and regulations, with market requirements placed heavily above all else. The country should expect to implement all requirements of the Markets in Crypto-Assets (MiCA) framework before 2026, bringing with it clarity of regulation to its benefit. Acceptance of the crypto assets by mainstream institutions – banks and investment funds alike – that are increasingly gaining entry into the market is now seen as a sign of viability.
The potential tax reforms may adjust the current taxation of crypto assets to compete at a regional level. At the same time, decentralized finance platforms will also have to comply with new requirements as regulations begin to catch up in this sector.
Market Growth Projections:
2025 Revenue Forecast: €66.76 million (US$710.6m)
2026 Revenue Forecast: €73.87 million (US$786.1m)
Annual Growth Rate (CAGR): 10.62% (2025-2026)
User Base: 6.30 million by 2026 (29.62% spiking)
Average Revenue Per User (ARPU): €36.95 (2025)
Romania envisions positioning itself as a balanced crypto hub, favoring technological progress with consumer protection. With the expected market growth, adoption has also been gradually accelerating, considering Romania’s position in the European digital asset picture.
Conclusion
Romania envisions a crypto landscape in 2025, striking a balance with temporary blockchain technologies while providing adequate protective regulatory controls. The market’s anticipated blitz of growth spells strong possibilities on the account of its nearing MiCA compliance and rising institutional adoption. This balancing act puts Romania firmly in the camp of being stable about imminent opportunity among the digital economies of Europe.
FAQs
1. Can Romanian businesses pay salaries in cryptocurrency?
No, the BNR prohibits crypto as legal tender for wages. Salaries must be paid in lei (RON), though bonuses or freelance payments in crypto may be allowed under tax rules.
2. Are crypto donations to NGOs taxable in Romania?
Yes, NGOs receiving crypto donations must declare them as taxable income at fair market value, subject to standard 16% corporate tax if above the exemption thresholds.
3. Do Romanian gamers face crypto taxes on NFT purchases?
NFTs are treated as virtual assets; profits from sales are taxed at 10% if held less than 1 year, but in-game purchases aren’t taxed if not converted to fiat.
4. Can tourists cash out crypto at Romanian ATMs without KYC?
No, all crypto ATMs require identity verification under EU AML laws, even for small amounts. Non-residents must provide passport details.
5. Is staking income considered “interest” by Romanian tax authorities?
Staking rewards are taxed as miscellaneous income (10%), not interest. Thus the excess income liability on the €10,000 exceeding income will be 16%.
6. Are DAOs legal in Romania?
Unclear. DAOs operate in a gray area, while not banned, they lack legal recognition. Members could be held jointly liable under existing partnership laws.
7. Does Romania have any special economic zones with crypto tax incentives?
Currently, Romania offers no special crypto tax zones, though the government has proposed creating a “Digital Innovation Zone” in Bucharest that may include tax benefits for blockchain startups by 2026. Existing tech park incentives don’t specifically include cryptocurrency businesses.
8. Do Romanian influencers disclose paid crypto promotions?
Yes, ASF mandates #ad disclaimers for sponsored crypto content. Violators face fines up to €5,000 for misleading marketing.
9. Can Romanians deduct crypto trading losses from taxes?
Only against crypto gains in the same fiscal year. Losses can’t offset salary or rental income under the current tax codes.
10. Will Romania’s digital leu (CBDC) replace private stablecoins?
Unlikely. The BNR positions its CBDC as a complement, not competitor, focusing on interbank settlements rather than retail use.
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