Regulator: Not formally designated (ESMA TBA). Draft GEO: Financial Supervisory Authority, ASF (Autoritatea de Supraveghere Financiară) (CASPs/ARTs/other) + National Bank of Romania, BNR (Banca Națională a României) (EMTs / supervised CIs-EMIs-PIs)
Regulated under EU MiCAR: ART/EMT stablecoin rules applicable since Jun 30, 2024; broader CASP rules since Dec 30, 2024.
Fiat-backed stablecoins may be issued only by credit institutions or e-money institutions, with par redemption and a ban on yield. A national ordinance to designate ASF and BNR as MiCA competent authorities remained a draft after the 2 April 2026 first reading, so local filing was still incomplete in August 2026.
