The Eastern European nation of Moldova is set to implement comprehensive regulations for cryptocurrency ownership and transactions within the current year. Although the country cannot outright prohibit the use of decentralized digital assets, it is obligated to adopt the latest European Union rules as it pursues membership.
Moldova Aims to Regulate its Crypto Space in Alignment with EU Standards
Andrian Gavriliță, Moldova's Finance Minister, announced that the Republic of Moldova will enact legislation governing cryptocurrency investment, trading, and conversion in 2026. This framework will also introduce stringent regulations for taxation and the prevention of money laundering.
Speaking to TVR Moldova and as quoted by the Eurasia Daily portal, Gavriliță explained that several institutions are currently involved in drafting the respective bill. These institutions include the National Bank of Moldova, the National Commission for Financial Markets, and the Office for Prevention and Combating Money Laundering.
Gavriliță emphasized that this initiative is a component of Moldova's commitments to the European Union, which has already adopted its comprehensive Markets in Crypto Assets (MiCA) regulation. He stated:
We can’t just ban it. We are obliged to regulate and clarify. Citizens have the right to own these currencies. We will have the relevant legislation this year.
The forthcoming law will define who is authorized to conduct crypto transactions, convert digital coins into the national currency, the Moldovan leu, or foreign currencies. It will also specify which organizations will be permitted to operate within this market.
The representative of the executive power in Chișinău clarified that using cryptocurrencies like Bitcoin for purchasing goods or paying for services will not be allowed. He elaborated:
You won’t be able to make payments with them, just as you can’t pay with euros or dollars. The leu will remain the national currency. But owning, trading, and converting them will be legal.
The regulation will be drafted in accordance with current European directives, drawing upon the experience of neighboring Romania, with which Moldova shares historical and ethnic ties, as well as other EU member states.
New Moldovan Legislation to Address Taxation and Security Concerns
Andrian Gavriliță indicated that Moldova's upcoming crypto regulations will also encompass the taxation of crypto-related income and capital gains. Under the future tax regime, while cryptocurrency holdings themselves will not be taxed, profits derived from transactions involving them will be subject to taxation. The minister provided further details:
If you are a tax resident of Moldova and receive income from cryptocurrency transactions, you must pay a 12% tax, just like on any other income.
The official also highlighted that the framework will address money laundering and security risks. He cited a recent treason case involving the transfer of substantial cryptocurrency amounts, which he believes demonstrated the vulnerabilities of the unregulated sector. Gavriliță stressed the need for balance:
We need to find a middle ground – legalize this field while preventing the use of cryptocurrencies for illegal financing and money laundering.
Recently, a court in Chișinău sentenced Moldovan citizen Denis Cuculescu to 15 years in prison for treason and large-scale fraud. He was convicted in absentia for allegedly utilizing his cryptocurrency expertise to transfer and cash out significant sums of money, thereby "assisting a foreign state in carrying out hostile activities" against his country, according to the indictment. Cuculescu is believed to have relocated to Russia after reportedly working for its special services.
Cuculescu has previously faced accusations of interfering in Moldova’s internal affairs and attempting to influence its elections amidst the ongoing war in neighboring Ukraine.
The eastern territories of Moldova remain occupied by the unrecognized breakaway state of Transnistria, a pro-Russian entity that emerged following the dissolution of the Soviet Union in the early 1990s.