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Romania vs San Marino

Crypto regulation comparison

Romania

Romania

San Marino

San Marino

Legal
Legal

Cryptocurrency is legal in Romania. Crypto gains are taxed at 10% as 'income from other sources' under the fiscal code. VASPs must register with the relevant authorities for AML compliance. Romania has a growing crypto community and is transitioning to the EU MiCA framework.

San Marino has developed a regulatory framework for blockchain entities. The country has issued licenses for blockchain-based businesses.

Tax Type Capital gains
Tax Type Unclear
Tax Rate 10%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator ASF (Autoritatea de Supraveghere Financiară), BNR (National Bank of Romania)
Regulator Central Bank of San Marino, AIF (Financial Information Agency)
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules No specific stablecoin regulation
Key Points
  • Crypto gains taxed at 10% as 'income from other sources' under Article 114 Fiscal Code
  • Annual gains up to RON 600 (~EUR 120) exempt from tax per Article 116 Fiscal Code
  • VASPs must register for AML/CFT compliance
  • ASF oversees financial market conduct; BNR handles monetary policy
  • MiCA framework applicable from December 2024
Key Points
  • Delegated Decree on blockchain technology entities issued
  • Licenses issued for blockchain-based businesses
  • AIF provides regulatory oversight
  • Small jurisdiction working to attract blockchain companies
  • Developing comprehensive digital asset regulation