Ecosystem map 149 – Financial Supervisory Authority of Romania (RO ASF)
AML(Anti-Money Laundering) and KYC(Know-Your-Customer) Obligations: Fintech companies, including crypto exchanges and digital wallet providers, must adhere to EU and national AML/KYC regulations. Law no. 129/2019 outlines requirements for preventing money laundering and terrorist financing.
Ecosystem map 150 – National Bank of Romania (NBR)
E-Money Institutions: The sector for issuing electronic money is governed by Law Number 210/2019, supplemented by NBR Regulation no. 5/2019.
Ecosystem map 137 –
NoCash.ro – The oldest publications on news on banking, fintech & financial services
Ecosystem map 138 – Romanian Government
Law no. 244/2022 in Romania, effective from August 6, 2022, implements EU Regulation 2020/1503 nationally. It designates the Financial Supervisory Authority of Romania (RO ASF) as the responsible body for crowdfunding services, outlining procedures for authorization and registration of service providers, and setting rules for marketing communications. The law also specifies requirements for legal forms […]
Ecosystem map 125 –
In Romania, a microenterprise is defined by specific criteria including annual income not exceeding EUR 500,000, ownership not held by the state or administrative units, operational status (not in dissolution), and generating over 80% of total revenue from activities other than consultancy/management, except tax consultancy. Additionally, it must employ at least one person and its […]
Ecosystem map 126 –
At the present, in Romania around 50 well-known Fintech companies divided into the following categories: (1) payment and wallets, (2) lending and crowdfunding, (3) investments and wealth management, (4) InsurTech, (5) personal finance, (6) financial infrastructure and (7) Enablers.
Ecosystem map 127 –
Incentive schemes for investment in tech/fintech businesses Romania’s tech and fintech sectors are growing, supported by tax incentives and development goals set by the government. As of January 1, 2023, IT field employees, including those on secondment in Romania, can benefit from income tax exemptions, aimed at fostering innovation and growth. Fintech companies enjoy a […]
Ecosystem map 128 –
FINTECH REGULATION Romania doesn’t have a specific legislative package tailored for fintech businesses. However, a bill regarding Distributed Ledger Technology (DLT) was finalized and is expected to be enforced within the year. Fintech activities might fall under strict regulations for activities such as insurance, loans, financial transactions, and payment gateways, requiring approval from relevant authorities […]
Ecosystem map 129 – Romanian Government
One significant regulatory change is related to the use of Point of Sale (POS) terminals. Amendments to the Cashback Law, effective from January 1, 2023, require merchants with annual cash receipts exceeding 10,000 euros to equip themselves with electronic POS terminals. This regulation applies to small and medium-sized businesses, marking a substantial step towards digital […]
Ecosystem map 130 – Romanian Fintech Association (RoFin.tech)
in January 2020, 16 Romanian fintech companies came together and founded the Romanian Fintech Association – RoFin.Tech. This is the first professional entrepreneurial domestic body whose purpose is to contribute to a vertical innovation development specific to the fintech area. The founding companies of RoFin.Tech carry out their business in various financial subsectors, such as […]
