MiCA CASP authorisation in Romania (ASF)

Why teams look at Romania

Romania is a sizeable EU market with a growing technology sector. Under MiCA’s crypto-asset service provider regime, applying from 30 December 2024, the Autoritatea de Supraveghere Financiara (ASF), Romania’s non-banking financial regulator, is the authorising authority for CASPs, with the National Bank of Romania covering credit institutions and e-money tokens. Romania is not in the euro area, so euro thresholds are assessed against the leu equivalent.

This page is informational and does not replace legal, regulatory, or tax advice. Confirm current requirements, forms, fees, and timelines directly with the ASF before acting.

The authorisation route

A firm that is not already an EU-authorised financial entity applies to the ASF for authorisation as a CASP under Article 62. A firm already authorised under EU financial law can use the lighter Article 60 notification.

Under Article 63 the ASF has 25 working days to confirm completeness and then 40 working days to decide once the file is complete.

What the ASF expects

Local substance

A registered office in Romania and management effectively based there under Article 59(2).

Governance and fit-and-proper

Collective crypto-asset competence and sufficient time under Article 68, with assessment of directors and qualifying shareholders.

Custody and client assets

Segregation, reconciliation, a custody policy, and strict liability for loss under Article 75 where you hold client crypto-assets or the means of access.

Prudential safeguards

Own funds, an insurance policy, a comparable guarantee, or a mix under Article 67, at the higher of the class minimum or one quarter of fixed overheads.

Capital, the Article 67 question, and ongoing fees

The minimum is 50,000 euro, 125,000 euro, or 150,000 euro depending on the services you are authorised for, or one quarter of the previous year’s fixed overheads if higher. Romania has also been reported to apply a national ongoing supervisory fee based on operating income, which is unusual among MiCA jurisdictions, so factor ongoing cost into the model and confirm the current rate with the ASF. If you are weighing insurance against capital, build the evidence first: see the CASP insurance evidence pack and own funds vs insurance.

Transitional path

Firms operating under Romania’s pre-MiCA regime transition onto MiCA through a process the ASF manages within a national transitional window. Confirm the current cut-off date and the exact transition steps with the ASF.

Transitional dates have moved at the member-state level. Confirm any date against current ASF guidance before planning around it.

FAQ

Is a Romania CASP licence valid across the EU?

Yes. A CASP authorisation passports to all 27 member states under Article 65. You authorise in Romania and notify the host states before providing services there.

Does Romania charge an ongoing fee CASPs should budget for?

Romania has been reported to apply a national ongoing supervisory fee tied to operating income, which most member states do not levy in that form. Confirm the current rate and basis with the ASF.