Buju Stanciu and Associates: Romania can attract billions of euros in the crypto industry, which is ready to take off. We hope the state will not clip its wings with thick bureaucracy and outdated measures through the new regulation

Lawyers propose concrete solutions for the future of crypto: a digital one-stop shop for obtaining authorizations and a testing program without immediate sanctions

Romania can become a regional hub in the crypto field, with the chance to attract billions of euros to the economy in the coming years, if the state takes favorable measures and is free of excessive bureaucracy for this ecosystem. In this regard, the regulatory program for profile companies, currently under public debate and to be finalized, should have included modern changes: the crypto industry needs a digital single window, through which future investors in the field can obtain authorizations in a short time, and a “regulatory sandbox” program in which crypto solutions can be tested in a controlled regime, without fear of premature sanctions, according to the law firm Buju Stanciu & Asociații, specialized in emerging technologies.

“We are glad that Romania is finally entering a predictable regulatory logic. Romania has the chance to become a regional hub for crypto assets, like Malta. This industry just needs to be supported by the authorities. The potential is very high – Romania can attract billions of euros to the crypto industry, which is ready to take off. We hope the state will not clip its wings through excessive bureaucratic measures and institutional burdens.”

To help companies in the field, despite the lack of a clear framework, we have worked in advance on the protocols and structures necessary for licensing crypto operators, so that we are prepared when the state takes over this field. We hope that the legislator will provide a regulation friendly to future crypto professionals, which has the potential to attract significant amounts into the country’s economy, ” said Victor Buju, partner of Buju Stanciu & Associates, a law firm specializing in emerging technologies.

Enthusiasm must be matched by lucidity: without modern measures, crypto professionals will move their activities to other countries

For the first time, the crypto industry in Romania receives a minimally coherent legal framework. Through the draft regulation, currently under public debate, the roles of ASF and NBR are defined, and professionals in the field now know who they need to contact in order to operate legally. At the same time, a national registry of CryptoATMs is introduced, traceability and transparency conditions are imposed, and the sale of crypto services without a license becomes punishable.

“We appreciate the authorities’ approach, the new regulation makes great steps forward for an industry accustomed to navigating uncertainty and a legislative vacuum, but Romania must move from a culture of control to a culture of collaboration. Without a modern approach – such as implementing a single window, regulated sandboxes, clear and proportionate rules – we risk the most valuable Romanian innovators moving their projects to other countries.”

In addition to its advantages, the Romanian legislative project unfortunately retains some local bureaucratic reflexes, which can hold back the very actors on whom the market development depends and the significant capital injection that may occur if this economic opportunity is taken advantage of. Instead of simplifying, it adds steps and opinions. Instead of supporting testing, it penalizes from the start. Instead of encouraging honest communication, it introduces vaguely formulated prohibitions. We hope that they will reconsider these proposals with some more friendly to the crypto business environment ”, emphasizes Marius Stanciu, partner at Buju Stanciu & Associates, a law firm specializing in emerging technologies.

What measures could the state take to develop the crypto sector: lawyers’ proposals

Romania has everything it needs to become a top player in the digital economy of the future: well-trained specialists, internationally recognized developers, and a public increasingly interested in digital assets. However, lawyers at Buju Stanciu and Associates warn that this potential could be wasted if the state does not act quickly and intelligently to create a favorable framework for the development of the crypto industry.

The lawyers propose a series of applicable and effective measures that would contribute to the professionalization and maturation of the crypto-asset market in Romania:

1. A digital single window, which will concentrate all authorization requirements in an accessible, transparent, and efficient platform. In this centralized platform, all crypto operators can submit documentation, obtain approvals, and receive clarifications.
2. A “regulatory sandbox” program that allows crypto solutions to be tested in a controlled environment, without fear of premature sanctions. Through this program, start-ups, fintech companies, or providers of new technologies can test innovative products, services, or business models in a real environment, but under strict supervision and with temporary exemptions from some regulations.
3. Clear rules on communication and promotion, so that financial education is not confused with spam.
4. A period of transition and educational support, in which operators and consumers can adapt to the new rules without disproportionate risks.

MiCa regulation, a rare opportunity for Romania: why it is good news for the local crypto industry

The European Union launched the Markets in Crypto-Assets Regulation (MiCA) in 2023, and its application has already been mandatory since December 2024. MiCA (Markets in Crypto-Assets) is a unique framework that aims to protect investors and ensure the integrity of the crypto market, imposing common standards for crypto-asset issuers and crypto-service providers. Romania, with a notable delay, is finally taking the first real step: a draft Emergency Ordinance (OUG) establishing the competent authorities and the way to regulate the crypto industry.

MiCA is one of the few European initiatives that provides a clear and unified framework for an emerging market. Romania now has the opportunity to create an environment where innovation is regulated, not stifled. This regulatory window is also a strategic opportunity to attract international capital, if properly capitalized.

As the draft GEO is under public consultation, now is the time when the voices of professionals, entrepreneurs, local players, and those who provide them with legal assistance must be heard.

Technology is moving forward anyway; the question is whether Romania wants to be the place where future platforms are created or just the market where they are consumed. Let’s take advantage of the public debate and transform a text “with the brakes on” into a balanced framework that protects users, without driving innovation and resources across the border.

The adoption of the MiCA regulation in Romania should not be seen only as a compliance with EU requirements, but as an investment in the future of the national crypto industry. Through open collaboration between authorities, experts, and the business community, the country has the chance to position itself as a regional leader in the crypto field, with a secure, transparent, and innovation-friendly ecosystem.

Buju Stanciu & Associates is a business law firm with recognized expertise in corporate law, intellectual property, and commercial litigation, as well as in innovative fields such as cryptoassets, fintech, artificial intelligence, and blockchain. Part of international networks such as Interlegal, Legal Network International, and, since 2025, Exsus Global, the team constantly assists companies and large entrepreneurs in emerging industries, offering them clear and efficient legal solutions in an ever-changing legislative landscape.