Cryptocurrency – Nascent Regulation and Challenges for Romania

Abstract

ABSTRACT: This article aims at presenting the strengths and weaknesses of the Romanian legislation towards cryptocurrencies. While starting from legal acceptances of cryptocurrencies from the US and EU, the article moves on to an analysis of Romanian legislation that treats cryptocurrency fiscally and criminally. Concluding, legislators around the world are falling behind regulation the mysterious new digital age of finance and cryptography-and-distributed-ledger-based assets. Also, one can remark that non-fungible tokens and cryptocurrency are the basis of a more complex and prominent legal construct that is “smart contract”. KEYWORDS: Cryptocurrency, fintech, non-fungible tokens, digital ledger, blockchain