ROMANIA RELEASES DRAFT BILL REGULATING THE ISSUANCE OF DIGITAL CURRENCY

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ROMANIA RELEASES DRAFT BILL REGULATING THE ISSUANCE OF DIGITAL CURRENCY

The Ministry of Finance of Romania has released a draft Emergency Ordinance, which regulates the issuance of electronic money (e-money), Business Review reported July 5. The draft reportedly describes electronic money as “monetary value stored electronically, including magnetic, representing a claim on the issuer issued on receipt of funds for the purpose of performing payment transactions and which is accepted by a person other than the issuer of electronic money.” According to the document, any legal entity looking to issue e-money must have a share capital of no less than €350,000 ($409,000), while its members are subject of approval by the Romanian National Bank (BNR). Read more on the website – Cointelegraph.

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