Romania Drafts an Emergency Ordinance to Regulate “Electronic Money”

[kreslik.news]

On Thursday, July 5th, a local news source reported that the Romanian Ministry of Finance has drafted an emergency ordinance to regulate electronic forms of money. The draft places the supervision of electronic currency issuance into the hands of the Romanian National Bank, and limits the kinds of organizations that have legal permission to issue electronic currency.

Business Review reported that according to the draft, electronic currencies will only be legally operational if they are issued by credit institutions, the European Central Bank and central banks of EU member states (as long as they are not acting ... (read more)