[2018-07-30] Romania Targets Cryptos With New Electronic Money Law, A Draft Bill

[Vladdirescu87]

Romania has become the most recent nation to institute a regulatory process explicitly aimed at digital currencies and cryptocurrencies. The Romanian ministry of finance officially published a draft of an Emergency Ordinance that clearly outlines the conditions and full requirements to be fulfilled as an issuer of electronic money in the country.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/romania-targets-cryptos-with-new-electronic-money-law-draft-bill-published/

[1714105115]

1714105115

[odolvlobo]

Because of the decentralized nature of most cryptocurrencies, I don't see how a cryptocurrency-related firm could be considered to be an "issuer". Maybe it is an inaccuracy of the translation or an additional law-specific meaning of the word (similar to how a bitcoin trader is considered to be a money "transmitter" in the U.S.).

[NeuroticFish]

Because of the decentralized nature of most cryptocurrencies, I don't see how a cryptocurrency-related firm could be considered to be an "issuer". Maybe it is an inaccuracy of the translation or an additional law-specific meaning of the word (similar to how a bitcoin trader is considered to be a money "transmitter" in the U.S.).

There's an article here about that bill. https://www.startupcafe.ro/afaceri/statul-ordonanta-monede-electronice-prag-emitere.htm It's in Romanian, but, especially if you use Chrome, you can get a decent translation to English.

Most important points:
1. it's not really about crypto coins, but it may apply to tokens.
2. they do talk about an issuer (I guess that if your company meets their conditions, the company can make some sort of ICO)