Key Points

• Global crypto adoption intensified considerably between 2024 and 2025.
• In Romania, estimates reveal that between 5% and 10% of the total population are crypto holders.
• Bitcoin and crypto adoption are poised to surge with the help of MiCA EU regulations applied under Romanian law.

The global crypto industry has marked various achievements, especially during the past two years, making significant steps forward.

Crypto adoption in Romania is steadily increasing, amidst clearer regulations in the EU applied under the national law and optimistic digital asset ownership rates.

Once the Romanian people understand the relevance of new crypto frameworks, the barriers that stand against mainstream adoption will dissolve.

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Breaking the Crypto Adoption Barriers

Like most innovative technologies, the crypto industry has faced multiple hurdles along the way, and Romania is no exception.

Some of the most common barriers to adoption include the following:

• Lack of information
• Fear of the unknown
• Bad publicity highlighting only the downsides of the industry (risks, past problems, future concerns)
• Lack of clear regulation, diminishing trust
• Security concerns

However, slowly but surely, traditional finance is embracing the crypto industry, while realizing that emerging technologies will eventually blend with well-established financial systems, seeing a push forward, or risking getting left behind.

The USA, under the new Donald Trump administration, has shown great support for digital assets. The President signed an Executive Order to establish a Bitcoin Strategic Reserve and a Digital Asset Stockpile meaning that most likely, other countries will follow.

It’s worth noting that the Trump family’s crypto project, World Liberty Financial (WLFI), includes two Romanians, highlighting the country’s globally appreciated blockchain talents.

Europe is also making efforts to support the crypto industry with clearer regulations from the MiCA framework (Markets in Crypto-Assets Regulation), to gain the public’s trust and allow more investments in the industry.

With the IMF’s latest integration of Bitcoin and crypto into its global financial standards, the agency paved the way for easier crypto adoption.

The race for crypto adoption intensified in 2024, and it continues.

In Romania, crypto adoption is on the rise, according to the latest reports regarding the number of digital asset users, ownership, and inflows.

Crypto in Romania: Users, Ownership, and Inflows

Crypto User Ownership

In March, during Crypto Expo Europe, the largest crypto expo in Eastern Europe, speakers highlighted during panel discussions that 1 million Romanians have a crypto wallet or a crypto exchange account.

On the other hand, Global Legal Insights noted in a recent report about blockchain and crypto in the country that there are currently 2 million crypto holders registered in Romania.

Statista predicted in a July 2024 report that in Romania’s crypto market, the number of users is expected to reach 5.65 million in 2025.

Judging by these estimations, we currently have between 5% and 10% crypto holders in the country.

The user penetration rate in the country’s digital asset market is forecasted to surpass 29% in 2025.

Crypto Inflows in Romania – Eastern Europe

A Chainalysis report from October 2024 showed that between July 2023 and June 2024, Romania was in the 7th spot in the top Eastern European countries by crypto value received, with under $25 billion in crypto inflows.

Russia is at the top, surpassing $150 billion in crypto inflows.

Chainalysis also shows that Romania recorded the highest growth YoY between 2023-2024 in terms of NFTs in Eastern Europe.

The country also saw a notable growth in crypto bridges, surpassing Russia, Slovakia, Poland, Moldova, and Czechia. Crypto bridges are protocols that enable asset and data transfers between different blockchains, allowing interoperability and cross-chain transactions.

The same report also addressed a growing DeFi activity in Eastern Europe last year. According to Chainalysis, DeFi activity grew 40% YoY between July 2023 and June 2024, compared to July 2022 and June 2023.

Eastern Europe is placed in the third spot after Latin America and Sub-Saharan Africa.

Key Factors of Romania’s Growing Crypto Market

Some key growing factors for the crypto market in Romania are the following:

• Increasing acceptance and adoption of crypto by individuals and institutions
• Growing interest in Decentralized Finance platforms
• The potential for digital assets to serve as a hedge against inflation and political instability
• Advancements in blockchain technology and increased crypto use for cross-border transactions
• Increased sources of education regarding crypto and the blockchain
• Implementing the EU MiCA regulations in Romania

The market will continue its growth in the country and globally, despite the natural volatility typical in any emerging and rapidly evolving market.

Applying the EU’s MiCA Regulations in Romania

MiCA’s Entry into Application in the EU in 2024

The European MiCA regulations bring more clarity to the crypto industry across Europe, and Romania’s crypto markets will also have to follow these regulations.

December 2024 marked the month of MiCA’s entry into application in the EU, according to the official timeline published on the official ESMA website.

Romania has what it takes to become a leader in blockchain and tech adoption, and clearer regulations in the industry will support its development.

However, the real dimension of the crypto market in Romania is not 100% accurate, although the country was getting close to signing a law that would have offered a clearer picture of the overall market.

The Unresolved Issue of Exempting Crypto Gains from Taxes

The country was preparing to obtain a more specific image of the crypto market following the law that would have exempted crypto gains from income taxes.

The project was challenged by former President Klaus Iohannis, who pushed it back due to issues related to the Baptist Theological Institution and the National Agency for Fiscal Administration (ANAF).

In February, the Romanian Finance Minister, Tanczos Barna, said that he wanted to regulate the crypto industry in Romania as fast as possible, to have a conclusion and a new regulation framework before the local elections set to take place in May.

New Crypto Regulation Expected Before Romanian Elections in May

Barna said during a Governmental meeting last month that the Romanian state has to get ready for new challenges, not only regarding elections, but also in terms of online transactions including crypto.

He said that these subjects have to be addressed as soon as possible, and a legislative bill is expected to regulate the crypto market. This will reportedly include the following:

• Authorization for companies working in the industry
• Regulating how crypto companies enter the market
• Taxing crypto transactions

He also highlighted that ANAF will have to be ready to tackle all the upcoming challenges.

Crypto companies will have to obtain official authorization to operate legally in the country. Platforms like Binance, Coinbase, eToro, and others will have to report crypto-fiat transactions to Romanian authorities.

Global Legal Insights shared a complex piece on blockchain and crypto laws and regulations in 2025 in Romania, mainly following the legal regime and guidelines issued by the EU.

Romania’s Involvement in the Crypto Industry

Despite the 2022-2023 significant disturbances in the Web3 space caused by multiple project collapses (FTX exchange collapse, the US attack on BInance, and others), the industry benefited from new applications and research that boosted the value and confidence in the industry.

These developments showed that the market is maturing and has not been overlooked by the regulators in charge.

Romania is involved in multiple European programs such as he InvestEU Programme, and the Strategic Technologies for Europe Platform, which continues to support the EU’s position as a world-recognized pioneer in the field of blockchain tech, according to the report.

The contributing authors to the report, including Sergiu-Traian Vasilescu, Luca Dejan, and Bogdan Rotaru from VD Law Group, expect that Romania will be significantly involved in the EU Blockchain Observatory and Forum and in the Connecting Europe Facility, expanding its relevant institutions’ knowledge of the crypto market.

They also mentioned the measures taken by the Romanian Government in the crypto field, including:

• Specific programs for 2021-2026 for the financing of perfection and requalification of employees
• Programs for the Digitalization of SMEs

The lawyers mentioned that in Romania, the professions of blockchain architect and developer were officially recognized as early as 2011 which means that the country already has a crypto culture implemented for a long time.

The Romanian legislature expressed reservations in 2018 about funding other centers for blockchain research, but the rapid adoption of crypto led the National Bank of Romania to create and host a Fintech Innovation Hub.

Since 2022, a specialized department has been established within the Ministry of the Interior to support initiatives related to the use of new tech and digital solutions, including blockchain.

Key Actions Taken by the Romanian Government

The report cites some key actions taken by the Romanian Government in the crypto industry in the country:

• Preventing malicious practices that could be associated with crypto (money laundering, organized crime)
• Deciding to secure the national interest by regulating new emerging tech in the most sensitive areas: tax, anti-money laundering, KYC, and criminal law perspective

The Government adopted the Emergency Ordinance (GEO) no. 111/2020 in view of completing and amending Law no. 129/2019 for preventing and combating money laundering and terrorist financing.

GEO’s purpose is to strengthen crypto regulation in Romania regarding AML policies.

Strengthening Crypto Regulation

GEO also states that the provision of crypto-to-fiat exchange and digital wallet services should be subject to authorization and/or registration by the Commission for the authorization of foreign exchange activity within the Ministry of Public Finance, as well as obtaining technical approval from the Romanian Digitization Authority.

The report notes that although the draft decision was published by the Government in May 2022, provisions regulating the activities of exchange services between virtual and fiduciary currencies and providers of digital wallets are not fully enforceable yet.

As a general rule, crypto is not considered legal tender in Romania or at the EU level, while the EU envisions the issuance of a digital Euro.

However, according to MiCA, which is directly applicable in Romania and supported by the Romanian legislator, stablecoins can be seen as the equivalent of electronic money.

MiCA’s enforcement marks an essential milestone in the EU’s efforts to regulate crypto, and in Romania, some MiCA provisions have already become applicable.

Crypto Transactions

Global Legal Insights noted that crypto payments are increasingly accepted by major retailers, directly or via payment gateways, to avoid issues related to:

• Technical implementation
• Transaction and management issues

They noted that under legal institutions, crypto assets are generally qualified as intangible assets. The team of lawyers said:

“From a technical point of view, a payment in crypto represents an exchange, not a sale agreement, and although no cryptocurrency is considered legal tender, parties may voluntarily accept crypto as an alternative means of payment.”

Stablecoins Transactions

Following MiCA’s entry into force, payments made with stablecoins in Romania will be part of a well-regulated framework, which should:

• Boost the legitimacy and stability of this payment method
• Lead to increased consumer trust

Stablecoin transactions will be analyzed to ensure MiCA compliance, including transparency and AML measures. Romanian financial regulators will oversee these transactions to protect consumer interests and maintain market integrity.

Stablecoins are an important element in the crypto industry as they link the traditional financial system to the digital asset sector and offer more trust to users.

Romanian Banking System and Digital Assets – BNR Supervises Crypto Markets

Since February 2025, the National Bank of Romania, BNR, has supervised the crypto industry in Romania.

The Ministry of Finance proposed an important amendment to the legislative framework regarding credit institutions and capital adequacy via a draft law, transposing the new requirements established at the EU level into national legislation.

The draft law introduces important changes to Government Emergency Ordinance No. 99/2006, in accordance with Regulation (EU) 2023/1114 of the European Parliament and the Council, which sets clear rules for the crypto market.

The changes were necessary to align with Regulation (EU) 2023/1114, which was published on June 9, 2023, in the Official Journal of the European Union.

Key Changes of the Draft Law

Key changes brought by the draft law include the following:

1. Introducing New Asset Classes

There are three 3 new essential categories of crypto assets that credit institutions in Romania can issue and manage:

• Electronic money tokens – Digital financial instruments that can be used as a means of payment similar to traditional electronic money.
• Asset-referenced tokens – Crypto assets backed by an underlying asset including fiat, gold.
• Crypto asset services – A Broad category that includes activities such as crypto custody, crypto exchange, and others.

2. Banking-related changes

The draft law facilitates the access of Romanian credit institutions to the European financial markets.

The amendments introduced to Articles 45, 54, 80, 83, and 89 of Government Emergency Ordinance No. 99/2006 establish the following:

• Banks authorized in other EU states can operate in Romania, including for crypto activities, without further authorization.
• Financial institutions from other EU member states can provide crypto services in Romania by opening branches or directly, as long as these activities are included in their founding documents.
• Romanian banks will be able to offer crypto services in other EU states without requiring additional authorization in those countries if the services are included in the license issued by the BNR.

The Importance of Regulating Romania’s Crypto Industry

While some voices in the crypto industry might question the need for regulations, the truth is that common-sense regulations can strengthen the trust and safety of the ecosystem.

As long as new rules and frameworks work for the benefit of the people and the overall industry, they can become a means to facilitate easier adoption.

The Need for Common-Sense Regulation under the Romanian Constitution

MiCA’s regulation supports clearer rules for the crypto ecosystem, but it must be applied under the Romanian laws and Constitution.

Crypto industry rules should respect the fundamental rights promoted by Bitcoin, which are in the spirit of Satoshi Nakamoto’s vision, but adapted to real-world reality:

• Sovereignty
• Private property of your keys
• The freedom to transact

Romania’s Constitution has clear laws about these three essential rights:

• The 2nd article in the Constitution addresses the subject of sovereignty.
• The 44th article in the Constitution addresses the right to private property.
• Article 1.652 in the Constitution addresses the freedom to buy and sell, while other articles explicitly address the people’s freedom of expression, consciousness, opinions, beliefs, and more.

It’s essential to highlight that these rights are vital and should not be renounced under any circumstances, not even for the sake of increased safety or security.

There’s a popular saying by Benjamin Franklin, the Founding Father of America:

“Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety.”

However, common-sense regulation is important for avoiding chaos that destabilizes order.

Avoiding Chaos, While Supporting Innovation

Innovation cannot thrive in chaos, but it cannot thrive under rules that are too strict and choke the ecosystem either. The best example is the crypto industry in the US, which was unable to develop under the previous Biden administration.

Trump’s new administration also brought rules and clarity to the industry, but in a way that promotes and supports innovation. This can be best seen in the latest developments in the country, which are about to codify Trump’s Executive Order on Bitcoin and Crypto into law.

A completely unregulated system brings extreme volatility and abuse through fraud and money laundering, which can hardly promote adoption.

Fears that regulation kills freedom are unjustified if regulations are implemented with common sense and without becoming an enemy to decentralization while respecting the fundamental rights and freedoms of people. Even Heaven had its own rules.

Bitcoin’s Hybrid Nature Bridges the Gap Between Tradition and Innovation

Innovation can support tradition, despite some people believing otherwise – such a perspective reconciles two worlds and bridges the gap between them.

Bitcoin is the best example, by being a symbiosis of:

• An innovative technology
• A promoter of traditional values, including sovereignty, freedom, and the right of ownership

Bitcoin’s core values and deeply anchored in traditional visions about money and freedom. The crypto industry does not have to eliminate tradition, such as the need for financial stability – it reinterprets it for the digital era.

Romania, a country with an economy in transition to the digital system and a rising appetite for new technologies can be the perfect place where Bitcoin’s symbiotic nature could find its home.

Bitcoin’s global adoption intensified in 2024 and continued this year as well.

Navigating the Global Crypto Industry Between 2024 and 2025

2024 was an important year for the crypto industry that set the path toward a “golden era” for the ecosystem, a term used by Binance’s CEO, Richard Teng, after Donald Trump won the US elections last year.

Importance of the Year 2024 in Crypto

1. Bitcoin Reached $100.000

Last year was the year in which Bitcoin reached the important psychological level of $100,000, proving to the entire world that it’s a singular asset class that managed to penetrate the traditional financial system due to its strong community and its overall impact on the global economies.

This year, in January, Bitcoin reached its ATH above $108,000.

2. Bitcoin’s 4th Halving

2024 was also the year of Bitcoin’s halving – an event that takes place once every four years and slashes the Bitcoin miners’ rewards to half. Last year, the BTC miner reward was cut from 6.25 BTC to 3.125 BTC.

The Bitcoin halving is one of the most important events in the crypto industry, and 2024 marked Bitcoin’s fourth halving.

3. Approval of BTC ETFs and Surging Institutional Investments

Bitcoin’s path was also boosted last year by the approval of Bitcoin ETFs in the US, paving the way for significant institutional investments into the industry.

Important names in the financial sector, like BlackRock’s CEO, Larry Fink, also showed support for the digital asset. Fink called BlackRock’s Bitcoin ETF, IBIT, the fastest-growing ETF in history in March 2024.

As of April 1, the US BTC ETFs have amassed over $95 billion in total assets locked, with over $36 billion in total new inflows, SoSoValue data shows.

American and global institutional investors have teased their entrance into the crypto markets between 2021 and 2022, but the FTX collapse, which marked the most significant crypto exchange disaster, together with the harsh measures taken by the US SEC during the former Biden administration, have slowed down investors’ appetite for risk assets.

Everything changed in 2024, coinciding with Trump’s support for Bitcoin and the crypto industry paving the way for a better future for the ecosystem.

American companies have started buying BTC ETFs and some of them already own hundreds of thousands of coins, being the main US investors.

Important institutional investors continuously bought BTC, and one example is Strategy, formerly known as MicroStrategy, which became the first Bitcoin-centric company to join the Nasdaq 100 Index in March 2025.

4. Global Political Support

The crypto industry has seen huge political support during the US Presidential campaign, with Donald Trump, holding the crypto promises he made, with the most important one being the establishment of a Bitcoin Strategic Reserve in the country.

“Last year, I promised to make America the Bitcoin superpower of the world and the crypto capital of the planet and we’re taking historic action to deliver on that promise…” – President Donald J. Trump

Crypto Making America Great Again pic.twitter.com/ZWe80hLate

— The White House (@WhiteHouse) March 7, 2025

2024 also marked the year when Russia’s President, Vladimir Putin, signed a BTC and crypto tax regulation law, also showing support for the industry.

5. The Importance of Bitcoin’s Geo-Strategic Role

It’s not relevant that Bitcoin reached $100,000 last year; what is relevant is the fact that it got there as the world understood its geopolitical role.

For instance, Russia has been recently using Bitcoin and crypto for its oil trades with India and China to bypass Western Sanctions.

As the US is getting closer to codifying into law the BITCOIN Act, after Trump signed an Executive Order involving the establishment of a Strategic Bitcoin Reserve, more countries will probably follow.

The legislation would involve the US buying 1 million BTC over five years and not selling its coins, as they can bring rising value to the country’s economy, while tackling the national debt.

2025 – Global Crypto Mass Adoption is Here

2025 is the year in which clearer crypto regulations come into effect on a global scale, supporting the mainstream adoption.

The IMF’s Bitcoin and crypto acknowledgment this year as a separate class of assets comes to support the industry’s legitimacy in global finance.

Crypto Adoption 2025 – Romania and Beyond

Bitcoin and crypto are seeing increased traction and support all over the world, in the US, in Russia, in the EU through clear MiCA regulations, and in the UAE.

Romania also seems to be on the right path to embrace the industry with its innovative technologies, despite all the hardships that usually come with innovation.

One key player worth mentioning in crypto’s journey to mainstream adoption is Binance, the world’s leading crypto exchange, which showed support in Romania.

Binance’s Presence in Romania

The country also benefits from the huge support of the biggest crypto in the world, Binance, supporting transactions in the local currency (RON) via traditional banks.

Binance has been a key player in the industry with over 260 million registered users, and its huge role in the ecosystem is recognized globally due to its long-standing culture, charity efforts, and ability to overcome all barriers.

The exchange’s latest achievement is the recent Abu Dhabi MGX $2 billion investment, making it the biggest investment in a crypto company and Binance’s first institutional investment.

Binance’s support for Romania’s markets is a huge catalyst that will boost crypto adoption in the region, along with platforms like Crypto.ro whose founder and CEO, Alex Numeris, dedicated huge efforts to building and making it global via multiple languages, including English, Romanian, Spanish, and French.

With enough information, regulation, and clarity for the industry, and by highlighting Bitcoin and crypto’s ability to give back financial freedom to the people, the rate of adoption will most likely continue to increase.

Once people understand the true meaning of Bitcoin and that it goes beyond financial wealth, adoption will happen at a more rapid pace.

Bitcoin represents a new system, a language, freedom, and the strength of holding on to essential principles, teaching people that scarcity is valuable.

Bitcoin’s Core Principles and Values Can Change the World

Although the Bitcoin creator, Satoshi Nakamoto’s identity remains unknown, the principles of decentralization and financial sovereignty continue to thrive in today’s world, and hopefully in the future.

What matters most is Satoshi’s legacy, an alternative for people in times of crisis, a choice apart from the traditional financial system, a Plan B.

Beyond favorable policies and the launch of crypto-related products globally, the industry came to be what it is today because of what it represents.

In a world plagued by fear and weakness, Bitcoin embodies a strong community united in the pursuit of peace, prosperity, the defense of freedom, and the preservation of what’s right and true, regardless of its volatility, which simply mirrors the human nature of sentiments.

It teaches us about the rewards of holding and the dangers of fear and greed.

Hopefully, the Romanian people will continue to recognize its significance and fully embrace it.