Recently, Lexters and CryptoSwift have teamed up to help Romanian Virtual Asset Service Providers (VASPs) comply with the new EU regulations, including MiCA and Travel Rule requirements.
This collaboration aims to assist VASPs in understanding regulatory obligations and ensuring cross-border data sharing under the Travel Rule.
Announcement Following Draft Emergency Ordinance
The partnership was announced shortly after Romania published a draft of its Emergency Ordinance on May 26, 2025. This document outlines plans for implementing MiCA in the country.
Under these proposed rules, crypto exchanges, wallet providers, token issuers, and ATM operators must secure regulatory approval by November 30, 2025, to align with EU standards.
Regulatory Oversight
The draft ordinance assigns specific supervisory responsibilities. The Financial Supervisory Authority (FSA) will oversee crypto issuance, asset-referenced tokens, and the use of crypto ATMs. Meanwhile, the National Bank of Romania (NBR) will monitor e-money tokens representing fiat currencies. Furthermore, unregistered crypto asset service providers could face website blocking orders from the Agency for Financial Stability (ASF).
Businesses that are currently operational can continue their activities temporarily but must submit authorization requests within 30 days of the ordinance coming into effect. Complete compliance, including technical audits and internal controls covering cybersecurity and system vulnerabilities, is due by November 30, 2025. These checks will be conducted annually or more frequently in case of incidents.
Lexters supports VASPs with application submissions, compliance planning, and audit preparation. CryptoSwift focuses on ensuring firms can transmit required transaction data across borders according to the Financial Action Task Force’s Recommendation 16 and the EU’s Transfer of Funds Regulation (TFR).
Immediate Attention Required
Officials from Lexters highlighted that this period is a crucial turning point for Romania’s digital asset sector, emphasizing the necessity of immediate attention. CryptoSwift representatives also noted that their infrastructure is designed to help Romanian VASPs meet complex data-sharing standards across different jurisdictions.
