🇷🇴Romania

Detailed overview

Romania at a glance

Romania combines MiCA, which applies directly but with no national competent authority designated as of July 2026, and a large, high-tax online-gambling market. The MiCA transitional period ended 1 July 2026; under the AML law, the ASF and the BNR supervise for anti-money laundering the financial firms in their sectors that provide crypto-asset services under Article 60 MiCAR. 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, no national competent authority designated as of July 2026:

• MiCA and the AML law: Regulation (EU) 2023/1114 (MiCAR), which applies directly; Government Emergency Ordinance 10/2025 (published 13 March 2025) amended the AML law (Law 129/2019) for crypto-asset service providers
• Competent authorities: not yet designated for crypto-asset service providers, ART issuers and offerors: ESMA's compliance tables of May and July 2026 record Romania as pending designation of its MiCA competent authority. The BNR, as e-money supervisor, is the competent authority for e-money token issuers. For AML, the ASF supervises the investment firms, market operators, central securities depositories and fund managers that provide crypto-asset services under Article 60 MiCAR, and the BNR the credit and e-money institutions that do
• Grandfathering: closed. Romania adopted the full 18-month transition: entities notified to the ONPCSB before 30 December 2024 could continue until 1 July 2026; that window has now expired
• Pre-MiCA heritage: a light-touch ONPCSB notification/registration (AML-only), conferring no passport
• AML/CFT: Law 129/2019 (updated with MiCA terminology) applies, with the ASF and the BNR as AML supervisors of the financial firms in their sectors that provide crypto-asset services under Article 60 MiCAR, 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 where MiCA applies directly but no national competent authority had been designated as of July 2026, with a large but heavily taxed ONJN-licensed online-gambling market.

Is there a crypto licence in Romania?

Not from a Romanian authority yet. MiCAR applies directly, but ESMA recorded in July 2026 that Romania had not yet designated its MiCA competent authority. The transitional period ended on 1 July 2026, so serving clients in Romania now requires a MiCA authorisation, or an Article 60 notification, in another Member State, passported into Romania (reverse solicitation under Article 61 aside).

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: amended the AML law (Law 129/2019) for crypto-asset service providers and named the BNR and the ASF as authorities for the EU Transfer of Funds Regulation
• Law 129/2019: AML/CFT obligations, with the ASF and the BNR as AML supervisors of firms providing crypto-asset services under Article 60 MiCAR, 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 for Class 1, EUR 125,000 for Class 2 and EUR 150,000 for Class 3), with the higher of the floor or a fixed-overheads measure
• AML systems, a white paper for in-scope offerings, custody and client-asset segregation, ICT and governance documentation, and a business plan, all submitted to the competent authority once Romania designates one

Operational reality:

• Large platforms already serve Romanian users by passporting in from other Member States
• New activity should be structured through a MiCA authorisation or Article 60 notification in another Member State, passported into Romania, not the closed transitional regime

Official CASP roadmap: No Romanian authority had been designated under MiCA as of July 2026 (ESMA compliance tables, May and July 2026). 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 Laws 209/2019 and 210/2019, 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 under Law 210/2019.

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); Law 210/2019 (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, with no Romanian competent authority designated as of July 2026; own-funds floors EUR 50,000 / 125,000 / 150,000 by class; transition closed 1 July 2026
• Payments primary instruments: Law 209/2019 (PSD2); Law 210/2019 (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 serving a large domestic user base through a MiCA authorisation from another Member State
• Firms comfortable building genuine Romanian substance
• 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

• 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