🇷🇴Romania

Detailed overview

Romania at a glance

Romania combines a transposed MiCA framework, distinctive local supervisory costs and a large, high-tax online-gambling market. Crypto is supervised by the ASF (CASPs) and BNR (EMTs, payments); the full 18-month transition ended 1 July 2026. Payments run under Law 209/2019 with the BNR as supervisor and the Instant Payments Regulation and DORA in force. Gambling runs under GEO 77/2009, supervised by the ONJN. The leu is the currency, and Romania sits outside the euro area and banking union, so there is no ECB/SSM role.

Crypto regime under MiCA — ASF-led, with local add-ons:

• MiCA + national implementing law — Regulation (EU) 2023/1114 (MiCAR); Government Emergency Ordinance 10/2025 (in force 13 March 2025), designating the ASF and BNR
• Competent authorities — the ASF for CASPs, ART issuers and non-EMT offerings (and as ESMA point of contact); the BNR for EMT issuers and BNR-supervised entities (banks, payment and e-money institutions)
• Grandfathering — closed. Romania adopted the full 18-month transition: entities notified to the ONPCSB before 30 December 2024 could continue until 1 July 2026, with a notification to the ASF of intent to continue due by 30 November 2025; that window has now expired
• Pre-MiCA heritage — a light-touch ONPCSB notification/registration (AML-only), conferring no passport
• Romania-specific costs — a 0.5% monthly supervisory fee on a CASP's operating revenue (payable to the ASF), and a mandatory ADR (Authority for the Digitalisation of Romania) technical clearance of IT systems before the ASF application; crypto ATM operators also need ICI hardware clearance
• AML/CFT — Law 129/2019 (updated with MiCA terminology) applies, with the ASF as crypto AML supervisor and the ONPCSB as financial intelligence unit; the EU AML package (Regulation (EU) 2024/1624 / AMLR, with AMLA in Frankfurt) applies from 10 July 2027
• TFR / DORA — the Travel Rule (Regulation (EU) 2023/1113) applies from 30 December 2024 and DORA from 17 January 2025; DAC8 reporting runs from 2026 (first ANAF cycle for 2026 transactions, due by 15 March 2027)
• Tax — individual gains on virtual-currency transfers are taxed at 16% from 1 January 2026 (increased from 10%), as "income from other sources", with a small-transaction exemption (gains under 200 lei per transaction where annual gains stay under 600 lei); crypto-to-crypto swaps are taxable disposals; mining and staking are taxed at receipt; a health contribution (CASS) may apply above income thresholds. Companies pay 16% corporate tax (or microenterprise tax)

Payments and e-money regime (BNR-led):

• PSD2 — Directive (EU) 2015/2366; transposed by Law 209/2019, supervised by the BNR
• Payment Institution licensing — initial capital EUR 20,000 (money remittance), EUR 50,000 (payment initiation) and EUR 125,000 (other payment services)
• EMD2 / E-Money Institution — EUR 350,000 initial capital; stablecoin (EMT) issuers must be EMIs or credit institutions, supervised by the BNR
• Instant Payments Regulation (Regulation (EU) 2024/886) — euro instant-payment obligations apply to euro payments where offered; Romania's domestic currency is the leu
• DORA (Regulation (EU) 2022/2554) — applicable from 17 January 2025
• PSD3 / PSR — Commission proposals of 28 June 2023; provisional political agreement reached 27 November 2025, with final compromise texts published 23 April 2026 and formal adoption expected during 2026; the package will repeal PSD2 and EMD2 and fold e-money institutions into payment institutions
• Banking — Romania is outside the banking union, so the BNR is the sole banking supervisor and there is no ECB/SSM role
• Currency: leu (RON); the BNR is the central bank

Gambling regime — ONJN-licensed, high-tax:

• GEO 77/2009 on games of chance — the cornerstone, amended repeatedly (2015–16 reforms, 2023, and Law 141/2025 fiscal measures); a liberalised, monopoly-free model for licensable products
• Regulator — the ONJN, which licenses and supervises land-based and online gambling
• Licences — Class 1 (B2C operators) and Class 2 (B2B suppliers), with ten-year licences and annual authorisations; operators must maintain a permanent establishment in Romania
• Tax — the online authorisation tax rose from 21% to 30% of GGR from 1 August 2025 (minimum EUR 480,000 per year), plus a flat EUR 300,000 annual B2C licence tax, a EUR 500,000 responsible-gambling contribution, a 2% monthly tax on player deposits and advertising fees; player winnings are taxed at source
• Reform and enforcement — a celebrity/influencer advertising ban (from October 2025), a centralised ONJN self-exclusion register, slot-hall restrictions, and proposals to raise the gambling age from 18 to 21; the ONJN blacklisted the crypto prediction market Polymarket in October 2025 as unlicensed gambling, and maintains a domain blacklist with ISP blocking
• No EU passport — gambling is licensed nationally

Last verified: July 2026. Reference rate: EUR 1 ≈ RON 5.0; USD 1 ≈ RON 4.4.

Romania is a non-euro jurisdiction with a transposed MiCA framework (ASF for CASPs, BNR for EMTs/payments) plus a 0.5% monthly fee and ADR technical clearance, and a large but heavily taxed ONJN-licensed online-gambling market.

Is there a crypto licence in Romania?

Yes. Romania applies MiCAR through GEO 10/2025, with the ASF authorising and supervising CASPs and the BNR handling EMTs. The full 18-month transition ended 1 July 2026, so operating now requires an ASF authorisation, a valid MiCA passport, or an Article 60 notification.

The legal foundation:

• Regulation (EU) 2023/1114 (MiCAR) — the directly applicable EU framework for offerings, admission and crypto-asset services
• Government Emergency Ordinance 10/2025 — transposes MiCA and designates the ASF and BNR
• Law 129/2019 — AML/CFT obligations, with the ASF as crypto AML supervisor and the ONPCSB as FIU
• Regulation (EU) 2023/1113 — Travel Rule for crypto-asset transfers

Structure:

• A Romanian entity demonstrating genuine local substance — decision-making, management, compliance, AML and technical oversight
• MiCAR own-funds floors by class — EUR 50,000 (Class 1), EUR 125,000 (Class 2), EUR 150,000 (Class 3) — with the higher of the floor or a fixed-overheads measure
• ADR technical clearance of IT systems before filing; AML systems, a white paper for in-scope offerings, custody and client-asset segregation, ICT and governance documentation, and a business plan — submitted to the ASF

Operational reality:

• Romania's framework is fully transposed and the ASF is the single point of contact with ESMA, but the 0.5% monthly supervisory fee and the ADR/ICI technical-clearance steps are local costs not found in most other Member States
• Large platforms already serve Romanian users by passporting in from other Member States
• New activity should be structured through an ASF authorisation, a valid passport or an Article 60 notification — not the closed transitional regime

Official CASP roadmap: The ASF is the primary CASP authority and ESMA point of contact under GEO 10/2025; applicants must obtain ADR technical clearance before filing, and authorised CASPs pay a 0.5% monthly supervisory fee. The full 18-month transition ended 1 July 2026.

Payments & E-money (BNR — PSD2 / EMD2)

Best for payment, remittance, acquiring, wallet and e-money operators wanting a large domestic market in a non-euro EU economy.

What it is: Authorisation as a payment institution or e-money institution under Law 209/2019, supervised by the BNR and passportable across the EEA.

Who it suits: Money-remittance and transfer providers, acquirers, card and wallet issuers, payment-initiation and account-information providers, and e-money issuers (including stablecoin issuers, who must be EMIs or credit institutions).

Covers: The payment services under Law 209/2019 — incoming and outgoing transactions, transfers, card and instrument-based payments, money remittance, payment initiation and account information — plus issuance of electronic money.

Operational requirement: A Romanian entity; minimum initial capital by service type; ongoing own-funds and safeguarding of client funds; strong customer authentication; AML/CFT; DORA operational-resilience obligations; and fit-and-proper management.

Headline figures

• Primary instruments: Law 209/2019 (PSD2 / EMD2); Instant Payments Regulation (EU) 2024/886; DORA (Regulation (EU) 2022/2554)
• Regulator: BNR (authorisation and supervision)
• Entry capital: payment institutions EUR 20,000 / 50,000 / 125,000 by service type; e-money institutions EUR 350,000
• Banking: outside the banking union — the BNR is the sole banking supervisor, with no ECB/SSM role
• Reform pipeline: PSD3 / PSR — political agreement November 2025, compromise texts April 2026, adoption expected during 2026; EMD2 to be repealed and EMIs folded into payment institutions
• Currency: leu (RON); the BNR is the central bank

Is there a gambling licence in Romania?

Yes. The ONJN licenses online and land-based gambling under GEO 77/2009 in a liberalised market — but taxes and contributions rose sharply in 2025, and a Romanian establishment is required.

The legal foundation:

• GEO 77/2009 on games of chance — the cornerstone, amended repeatedly (most recently Law 141/2025)
• ONJN — licensing, supervision and enforcement
• Class structure — Class 1 (B2C), Class 2 (B2B) and Class 3 (online lottery monopoly)

Structure:

• Ten-year licences with annual authorisations; B2C operators must hold a permanent establishment in Romania
• Technical systems must be certified and audited; AML, KYC and responsible-gambling frameworks are required
• Strict ISP blocking and a public blacklist target unlicensed operators

Gambling — Class 1 (B2C) online licence (ONJN)

Best for well-funded operators able to absorb high fixed taxes and a 30% GGR levy in a large, growing market.

What it is: An ONJN Class 1 licence to offer online casino, sports betting and poker to Romanian players.

Who it suits: Established operators able to meet substance, capital, technical and responsible-gambling requirements.

Covers: Online casino, sports betting, poker and other authorised games (per licence and authorisation).

Operational requirement: A Romanian permanent establishment, certified technical systems, AML/KYC, self-exclusion-register integration, responsible-gambling tools and ONJN reporting.

Headline figures

• Primary instruments: GEO 77/2009 (as amended, including Law 141/2025)
• Regulator: ONJN (Oficiul Național pentru Jocuri de Noroc)
• Tax: online authorisation tax 30% of GGR (minimum EUR 480,000) from 1 August 2025; 2% monthly tax on player deposits
• Fees and contributions: EUR 10,500 issuance fee; flat EUR 300,000 annual B2C licence tax; EUR 500,000 responsible-gambling contribution
• Other: ten-year licence; minimum age 18 (a rise to 21 is proposed); player winnings taxed at source

Costs and timelines at a glance

• Crypto: MiCAR via GEO 10/2025, ASF (CASPs) and BNR (EMTs); own-funds floors EUR 50,000 / 125,000 / 150,000 by class; ADR technical clearance before filing; 0.5% monthly supervisory fee; transition closed 1 July 2026
• Payments primary instruments: Law 209/2019 (PSD2 / EMD2); Instant Payments Regulation (EU) 2024/886; DORA
• Payments regulator: BNR (sole banking supervisor — no ECB/SSM, outside the banking union)
• Reform pipeline: PSD3 / PSR — agreement November 2025, compromise texts April 2026, adoption expected during 2026
• Gambling: ONJN Class 1/Class 2 licences (ten-year term); online GGR tax 30% (minimum EUR 480,000); flat EUR 300,000 annual licence; EUR 500,000 RG contribution
• Tax: corporate tax 16% (or microenterprise tax); individual crypto gains taxed at 16% from 2026 (up from 10%), crypto-to-crypto taxable
• Currency: leu (RON); outside the euro area and banking union
• FX: EUR 1 ≈ RON 5.0; USD 1 ≈ RON 4.4

Who Romania suits and who it does not

Suitable for

• Crypto exchanges, custodians and token issuers wanting a transposed MiCAR framework and EEA passporting, with a large domestic user base
• Firms comfortable building genuine Romanian substance and absorbing the 0.5% monthly supervisory fee
• Stablecoin (EMT) issuers working with the BNR and an authorised credit or e-money institution
• Payment, e-money, acquiring and wallet operators wanting a non-euro EU base with passporting
• Well-funded gambling operators able to meet substance and high fixed-tax requirements in a growing market

Not suitable for

• Cost-sensitive CASPs — Romania adds a 0.5% monthly supervisory fee and ADR/ICI technical-clearance steps not seen elsewhere
• Crypto traders expecting tax-free swaps — crypto-to-crypto disposals are taxable, and the individual rate rose to 16% in 2026
• Providers relying on a former ONPCSB notification — the transition closed on 1 July 2026
• Gambling operators sensitive to tax — the online GGR levy is 30% with a EUR 480,000 floor, plus a EUR 500,000 responsible-gambling contribution
• Crypto-based betting or prediction-market operators — the ONJN treats these as gambling and has blacklisted such platforms