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🇷🇴 Romania

A distinctive dual-gate regime requiring both ASF authorisation and a separate ADR technical/IT clearance, with zero CASPs issued as of mid-2026.

Crypto (CASP / VASP) E-money (EMI)
Last verified 2026-07-15 Next review 2026-07-29

Data verified: oldest cell 46 days ago (verified 2026-07-02). Individual cells show their own verification date below.

Capital requirement Capital requirement is included with access. Included with access Timeline to authorisation Timeline to authorisation is included with access. Included with access Application cost Application cost is included with access. Included with access Passporting Passporting is included with access. Included with access

Licence type

MiCA CASP authorisation (EU Regulation 2023/1114, directly applicable). National implementation is unsettled: 2025 commentary cited GEO 10/2025 as the transposition instrument in force from 13 Mar 2025, while ASF stated on 1 Jul 2026 that the designating act is still a draft and no competent authority is yet in place; see recent changes.

Verified 5 weeks agoSource: Bursa interview with ASF First Vice-President (1 Jul 2026): https://www.bursa.ro/romania-nu-are-desemnata-o-autoritate-pentru-aplicarea-regulamentului-ue-privind-pietele-criptoactivelor-22744951 ; earlier commentary: https://bmalegal.ro/romanias-new-crypto-regulation-under-mica-compliance-licensing/

Regulator

Autoritatea de Supraveghere Financiara (ASF, Financial Supervisory Authority). A technical pre-clearance of IT systems by the Authority for Digitalisation of Romania (ADR) is also required before ASF grants a licence - a Romania-specific extra step.

Verified 7 weeks agoSource: legalbison.com: https://legalbison.com/casp-license/romania/

Recent changes

Romania's MiCA implementation is unsettled and sources conflict. 2025 commentary cited GEO 10/2025 (reported in force from 13 Mar 2025) as designating ASF and BNR, but that ordinance amends Romania's AML law rather than designating MiCA authorities. ASF stated on the record on 1 Jul 2026, and again directly to StartupCafe on 5 Jul 2026, that no Romanian authority has been designated as competent for MiCA, that the implementing act remains a Ministry of Finance draft emergency ordinance, and that ASF cannot receive or resolve authorisation applications. Parliament returns from recess on 1 Sep 2026, the earliest point at which the stalled draft could resume progress. The EU-wide transitional period ended 1 Jul 2026, leaving Romanian firms reliant on passporting from other member states in the interim.

Verified 5 weeks agoSource: ASF statement to StartupCafe (5 Jul 2026): https://startupcafe.ro/platforme-crypto-autorizatie-asf-mica ; earlier ASF First Vice-President remarks (1 Jul 2026) as previously sourced

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Not legal advice. Entries marked placeholder or awaiting verification shouldn't be relied on. Verify with Romania's regulator and qualified local counsel before acting.