Romania vs Timor-Leste
Crypto regulation comparison
Romania
Timor-Leste
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.
Timor-Leste has no specific cryptocurrency regulation. Uses the US dollar as its official currency.
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
- No specific cryptocurrency legislation
- Uses the US dollar as official currency
- Central bank has not addressed crypto regulation
- Very limited financial infrastructure
- Minimal crypto adoption