Romania Targets Cryptocurrencies With New Electronic Money Law

It’s hard, if you ask me
Whether regulation and management is good for cryptos
Cryptos are big just because they are decentralised
However only with clear regulation that it can healthily grow.
The debate is a potential infinity loop.

Romania Targets Cryptocurrencies With New Electronic Money Law

Romania has become the latest country to institute a regulatory process expressly targeted at cryptocurrencies and digital currencies. A draft of an Emergency Ordinance published by the Romanian Ministry of Finance sets out the conditions and requirements that must be met by an issuer of electronic money in the Eastern European country.

According to the draft bill, the issuer must have a minimum of EUR 350,000 worth of share capital, and every one of its members must be individually vetted and approved by the National Bank of Romania (BNR). Ostensibly to tackle organized crime, the proposed vetting measures will include full verification of individual tax payment history and personal legal records, according to a local report……

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