Romania Compliance Report

Generated 2026-09-22

Framework In Development

Regulatory Overview

Regulatory Status: Active legislative/regulatory process underway
Key Regulator(s): Bank of Romania, Romanian Financial Supervisory Authority
Primary Legislation: Regulation (EU, Transposed into Romanian law, e.g., via Law No. 24/2017 regarding issuers of fin, Law No. 431/2023 (Official Gazette, 29 Dec 2023) implements the EU Minimum Tax D, Draft Ordinance of 23 Jan 2026 amends the Fiscal Code to align with EU DAC 9 pro
Travel Rule: Adopted — Threshold: €1,000
Tax Reporting: Cryptocurrency is legal in Romania, but there is no dedicated crypto-specific regulatory framework or licensing regime; general tax and AML laws apply. Fiscal Code. The primary tax authority is ANAF (National Agency for Fiscal Administration), operating under the Ministry of Public Finance, which administers the Fiscal Code (Law No. 571/2003). Fiscal Code. No dedicated crypto license exists in Romania; no entities have been licensed for crypto activities because no licensing framework has been established. 1_EN_ACT_part1_v4.docx. Romania is subject to EU-level frameworks including the 5th Anti-Money Laundering Directive, which extends AML obligations to virtual currency exchanges and custodian wallet providers. 1_EN_ACT_part1_v4.docx. The practical reality is that crypto businesses operate in a legal gray area, relying on general fiscal and AML provisions while awaiting transposition of EU crypto-asset regulations (MiCA). 1_EN_ACT_part1_v4.docx

Key Facts

aml Law No. 129/2019 for the prevention and combating of money laundering and terrorist financing, as well as for amending and supplementing certain normative acts (Legea nr. 129/2019 pentru prevenirea și combaterea spălării banilor și finanțării terorismului, precum și pentru modificarea și completarea unor acte normative). This law transposed Directive (EU) 2018/843 (the 5th AML Directive) into Romanian national law, expanding the scope of obliged entities to include VASPs. Exchange between virtual assets and fiat currencies. Exchange between one or more forms of virtual assets. Custody and/or administration of virtual assets or instruments enabling control over virtual assets. Participation in and provision of financial services related to an issuer's offer and/or sale of virtual assets. Regulatory Body: The National Office for Prevention and Control of Money Laundering (Oficiul Național de Prevenire și Combatere a Spălării Banilor - ONPCSB) is the authority responsible for registering and supervising VASPs. Legal Basis: Law no. 129/2019 for the prevention and combatting of money laundering and terrorism financing, as subsequently amended and supplemented (transposing AML V).
enforcement Entity Targeted: Organized criminal groups composed of multiple individuals (often Romanian citizens operating globally). Violation Type: Organized crime, computer fraud, aggravated fraud, money laundering, setting up illegal financial investment schemes (Ponzi-like schemes using crypto). These groups typically lured victims into fake cryptocurrency investment platforms, promising high returns, only to steal their funds. Penalty Amount: Not a single fine, but the estimated damages/stolen funds often run into tens to hundreds of millions of USD/EUR across various operations. Assets (properties, luxury cars, cryptocurrencies, cash) are seized during investigations. Individuals face lengthy prison sentences upon conviction. Outcome: Multiple individuals arrested, indicted, and facing criminal prosecution. Assets seized. Some cases are ongoing in court; others have led to convictions. These operations often dismantle sophisticated, internationally operating fraud rings. Entity Targeted: Individuals or, in some cases, businesses found to have undeclared income from cryptocurrency trading or mining. Violation Type: Tax evasion (undeclared income from cryptocurrency transactions). Penalty Amount: Varies significantly depending on the undeclared amounts. It includes back taxes, penalties (e.g., 0.02% per day of delay), and interest. Specific aggregated amounts for "significant" cases against entities are rarely publicized, but for individuals, it can reach hundreds of thousands of RON. Outcome: Tax assessments issued, collection of back taxes, penalties, and interest. Criminal charges for severe cases of tax evasion. Legal Basis: Law no. 129/2019 for the prevention and combatting of money laundering and terrorism financing, as subsequently amended and supplemented (transposing AML V). Outcome: Multiple individuals arrested, indicted, and facing criminal prosecution. Assets seized. Some cases are ongoing in court; others have led to convictions. These operations often dismantle sophisticated, internationally operating fraud rings. Outcome: Tax assessments issued, collection of back taxes, penalties, and interest. Criminal charges for severe cases of tax evasion.
general For Individuals: Obtaining and verifying the identity based on reliable, independent source documents (e.g., national ID card, passport). This includes name, date of birth, place of birth, address, and national personal identification number (if applicable). For Legal Entities: Obtaining and verifying the legal name, legal form, registered address, registration number, articles of association, and verifying the identity of the beneficial owner(s) (typically those owning or controlling 25% or more of the shares/voting rights, or through other means of control). Beneficial Ownership: VASPs must take reasonable measures to understand the ownership and control structure of the customer. Understanding the reason for the customer establishing a relationship with the VASP and the expected type and volume of transactions. Continuously monitoring the business relationship, including scrutiny of transactions undertaken throughout the course of that relationship, to ensure that the transactions are consistent with the VASP's knowledge of the customer, their business, and risk profile. Keeping documents, data, or information updated. For higher-risk relationships or transactions, VASPs are required to ascertain the source of funds and, where appropriate, the source of wealth involved in the business relationship or transaction. Relationships with Politically Exposed Persons (PEPs).
licensing DIICOT (Direcția de Investigare a Infracțiunilor de Criminalitate Organizată și Terorism - Directorate for Investigating Organized Crime and Terrorism) Romanian Police (Poliția Română) International Cooperation: Often involves the US FBI, US Secret Service, Europol, Eurojust, and law enforcement agencies from other European countries. Date: Ongoing investigations, arrests, and indictments primarily from late 2022 through 2023 and into 2024. "Safir Project" and related schemes: Several operations have targeted groups involved in large-scale crypto scams, often using fake trading platforms and social engineering tactics. One notable coordinated action in October 2022 and subsequent follow-ups involved over 30 individuals. DIICOT Press Release - October 2022 - Organized Crime, Computer Fraud, Money Laundering Note: This is a direct link to a DIICOT press release detailing a significant operation targeting a crypto investment fraud group. While it doesn't mention "Safir Project" by name, it aligns with descriptions of these large-scale operations. Source URL (DIICOT Press Release - January 2023 - follow-up):
sanctions The European Union has established Regulation (EU) 2024/1620, which creates the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA), a new EU-level regulator with direct supervisory powers over certain obliged entities including crypto-asset service providers. Regulation - EU - 2024/1620 - EN - AMLAR - EUR-Lex Romania, as an EU member state, is subject to EU-level sanctions (restrictive measures) which are legally binding instruments adopted under the Common Foreign and Security Policy (CFSP); these include asset freezes and prohibitions on making funds or economic resources available to designated persons and entities. Sanctions (restrictive measures) - EUR-Lex - European Union The AML/CFT Authority established under Regulation (EU) 2024/1620 is an EU body, not a Romanian national regulator, but it will exercise direct supervision over certain cross-border financial sector entities in Romania as part of its mandate from 2027. Preventing abuse of the financial system for money laundering and terrorism purposes (from 2027) | EUR-Lex Romania's regulatory framework for financial services is aligned with EU law, and the country's financial supervisory architecture is recognised in the EU legislative summaries as being subject to the full body of EU financial services legislation. IMMC.SWD_2018_0384_FIN.ENG.xhtml.4_EN_autre_document_travail_service_part1_v4.docx No specific national licensing regime for crypto-asset service providers is described in the provided Romanian or EU source documents; the sources do not confirm whether any entity has been licensed in Romania for crypto activities under a dedicated national framework. Romania | EUR-Lex Under the EU AML framework that applies to Romania, crypto-asset service providers are classified as obliged entities and will require registration and compliance under the forthcoming EU-wide AML/CFT framework, with direct supervision by AMLA for high-risk cross-border entities beginning in 2027. Preventing abuse of the financial system for money laundering and terrorism purposes (from 2027) | EUR-Lex The AMLA Regulation provides that the Authority will directly supervise certain obliged entities, including credit institutions and crypto-asset operators that operate cross-border in multiple member states, which would include Romania-based entities meeting those criteria. Regulation - EU - 2024/1620 - EN - AMLAR - EUR-Lex Zero entities have been confirmed as licensed specifically for crypto activities under a Romanian national regime in the provided sources; no licensing body, application process, or capital requirements for crypto licensing are documented in the sources. Romania - Summaries of EU Legislation - EUR-Lex
securities Romania has not enacted a comprehensive, crypto-specific securities law as of 2025–2026; digital assets that qualify as "financial instruments" fall under the general capital markets regime administered by the Autoritatea de Supraveghere Financiară (ASF – Financial Supervisory Authority) 62019CJ0339 - EUR-Lex The primary legal basis is Law No 297/2004 on capital markets, which defines "financial investment companies" and sets a 5% shareholding limit, but contains no explicit provisions for crypto-assets or digital tokens 62019CJ0339 - EUR-Lex No Romanian authority has issued a dedicated license for cryptocurrency exchanges or digital asset service providers; the ASF has not publicly confirmed granting any such license, and zero entities have been reported as licensed for crypto-specific activities as of the current framework 62019CJ0339 Romania is bound by EU-level regulations, including the Markets in Financial Instruments Regulation (MiFIR) and the forthcoming Markets in Crypto-Assets Regulation (MiCA), but as of 2025, the national implementing measures for crypto-specific securities remain incomplete, creating significant uncertainty for market entrants L_202401620EN.000101.fmx.xml - EUR-Lex - European Union The primary securities regulator in Romania is the Autoritatea de Supraveghere Financiară (ASF – Financial Supervisory Authority), which supervises capital markets, insurance, and private pensions; its legal basis and enforcement powers are referenced in the case law of the Court of Justice of the European Union 62019CJ0339 - EN - EUR-Lex - European Union The core national law is Legea nr. 297/2004 privind piețele de capital (Law No 297/2004 on capital markets), published in Monitorul Oficial al României, Part I, No 571 of 29 June 2004, which defines capital market activities and the concept of "persons acting in concert" 62019CJ0339 - EUR-Lex Article 286 bis of Law No 297/2004 imposes a 5% cap on shareholdings in financial investment companies (SIFs), with voting rights suspended for shares exceeding that limit; this provision applies to any person acting alone or in concert 62019CJ0339 - EUR-Lex The National Securities Commission (Comisia Națională a Valorilor Mobiliare, CNVM) Regulation No 1/2006 on issuers and securities transactions supplements the law by defining presumptions of concerted action, including persons who "have carried out or are carrying out economic transactions together" 62019CJ0339 - EUR-Lex
stablecoin E-money Tokens (EMTs): Crypto-assets that purport to maintain a stable value by referencing the value of a single fiat currency. Asset-Referenced Tokens (ARTs): Crypto-assets that purport to maintain a stable value by referencing any other value or right, or a combination thereof, including one or several official currencies that are not legal tender, one or several commodities, or one or several crypto-assets. EMTs: Explicitly classified as a form of e-money under MiCA. Issuers must be authorized as a credit institution or an electronic money institution (EMI) under the E-money Directive (2009/110/EC), as transposed into Romanian law. ARTs: Are a new classification under MiCA. They are not considered traditional e-money or securities, but are regulated specifically as crypto-assets under MiCA. However, if an ART meets the definition of a financial instrument under MiFID II (transposed into Romanian Law no. 24/2017), it would fall under that regime instead of MiCA. Payment Tokens (MiCA uses this term for EMTs): MiCA defines EMTs as a specific type of crypto-asset intended to be used as a medium of exchange. Issuers must at all times maintain a reserve of assets equal to the nominal value of the EMTs in circulation. Funds received in exchange for EMTs must be protected in accordance with the E-money Directive, meaning they must be placed in a separate account in a credit institution or invested in secure, low-risk assets. The reserve assets must be segregated from the issuer's own assets.
status Romania has a GloBE compliance framework that includes the QDMTT, UTPR, and IIR mechanisms as of 2024–2025. GloBE Country Guide: Romania – oecdpillars.com The Romanian Ministry of Finance (MFinante) published a Draft Ordinance on January 23 2026 to amend the Fiscal Code for EU DAC 9 implementation. GloBE Country Guide: Romania – oecdpillars.com An Official Gazette Ordinance (No. 21 of 28 August 2025) amended the Minimum Tax Act, affecting filing deadlines and tax credit provisions. GloBE Country Guide: Romania – oecdpillars.com ANAF Order 1.729/2025 nominated a single designated entity for QDMTT filing within groups. GloBE Country Guide: Romania – oecdpillars.com Law No. 431/2023, published on 29 December 2023, implements the EU Minimum Tax Directive. GloBE Country Guide: Romania – oecdpillars.com The Romanian Parliament approved a draft law on global minimum taxation for MNE groups (Law No. 431/2023). GloBE Country Guide: Romania – oecdpillars.com Romania is not listed on the FATF List of countries with strategic AML deficiencies and was deemed compliant for 7 and largely compliant for 20 of the FATF 40 recommendations in the 2026 Mutual Evaluation. Romania – KnowYourCountry No international sanctions are currently imposed on Romania. Romania – KnowYourCountry
tax Cryptocurrency is legal in Romania, but there is no dedicated crypto-specific regulatory framework or licensing regime; general tax and AML laws apply. Fiscal Code The primary tax authority is ANAF (National Agency for Fiscal Administration), operating under the Ministry of Public Finance, which administers the Fiscal Code (Law No. 571/2003). Fiscal Code No dedicated crypto license exists in Romania; no entities have been licensed for crypto activities because no licensing framework has been established. 1_EN_ACT_part1_v4.docx Romania is subject to EU-level frameworks including the 5th Anti-Money Laundering Directive, which extends AML obligations to virtual currency exchanges and custodian wallet providers. 1_EN_ACT_part1_v4.docx The practical reality is that crypto businesses operate in a legal gray area, relying on general fiscal and AML provisions while awaiting transposition of EU crypto-asset regulations (MiCA). 1_EN_ACT_part1_v4.docx The Ministry of Public Finance is the authority empowered to develop methodological norms, instructions, and orders for applying the Fiscal Code, and it administers taxes through ANAF. Fiscal Code The primary tax legislation is Law No. 571 of December 22, 2003, regarding the Fiscal Code, which has been in force since October 16, 2008. Fiscal Code The Fiscal Code establishes the legal framework for taxes including profit tax, income tax, tax on micro-enterprise incomes, VAT, and excises. Fiscal Code
travel rule Crypto assets are legal in Romania, and as an EU Member State, Romania is directly bound by Regulation (EU) 2023/1113, which extends the "travel rule" to crypto-asset transfers and applies from 30 December 2024 Regulation (EU) 2023/1113 - EUR-Lex The regulation applies directly in Romania without the need for national transposition, making the travel rule mandatory for all crypto-asset service providers (CASPs) operating in Romania Information accompanying transfers of funds and certain crypto assets | EUR-Lex Romanian CASPs must collect and transmit originator and beneficiary information for all crypto-asset transfers, with additional verification requirements for transfers exceeding €1,000 involving self-hosted addresses Regulation (EU) 2023/1113 - EUR-Lex The Romanian Financial Supervisory Authority (ASF) is the designated authority for licensing and supervising crypto-asset service providers in Romania, though the specific travel-rule compliance framework is still being operationalized While Romania's regulatory framework is being aligned with EU standards, the practical implementation of the travel rule for crypto-assets remains in its early stages, with significant compliance infrastructure still being developed The regulation is a recast of Regulation (EU) 2015/847 and extends the scope of the travel rule to cover transfers of crypto-assets, applying directly in all EU Member States including Romania Information accompanying transfers of funds and certain crypto assets | EUR-Lex Regulation (EU) 2023/1113 applies from 30 December 2024, making the travel-rule obligations immediately enforceable in Romania from that date Information accompanying transfers of funds and certain crypto assets | EUR-Lex The regulation is part of a package of measures the Commission tabled in July 2021 to ensure traceability of crypto-asset transfers and to identify and block possible suspicious transactions Information accompanying transfers of funds and certain crypto assets | EUR-Lex

Sources

This report is AI-generated from publicly available regulatory sources. Last updated: 2026-09-06. View full profile