June 13, 2023

Increasing regulatory challenges and non-compliance risks for cryptos or other related unregulated products

In recent years, the rise in crypto and digital assets offered to the general public by regulated or unregulated entities has triggered the acute need for a regulatory response by national competent authorities.

Romania is no exception: as a result of increasing public demand for in dealing and trading in crypto or digital assets has resulted in considerable amounts being raised from Romanian investors, or in an increasing use as an alternative payment method from the traditional finance infrastructure.

Ever since the Covid-19 pandemic, digital assets have gained momentum worldwide, prompting national authorities across the globe to treat them as a top priority in terms of how the new and innovative ”no face business model” environment should be regulated.

2022 was a tough year for cryptocurrencies, especially for the so-called “stablecoin”, FTX being the most notorious of all crypto trading platforms that collapsed and went bankrupt.

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