Moldova plans to enact its first comprehensive cryptocurrency legislation by the end of 2026, strategically aligning its regulatory framework with the European Union's Markets in Crypto-Assets Regulation (MiCA). The announcement was made by Moldova's Finance Minister, Andrian Gavrilita, during an interview on state-owned TVR Moldova.
Minister Gavrilita stated that the government is collaborating with regulators, including the Finance Ministry, the National Bank of Moldova, the financial markets regulator, and the Anti-Money Laundering authority, to develop a legal framework. The legislation will explicitly allow citizens to legally hold and trade cryptocurrencies, but it will stop short of recognizing digital assets as an official means of payment within the country.
"We have the responsibility to regulate them, and it will be the right of citizens to hold these currencies," Gavrilita said. "I’m not sure if we'll manage during the next month, but it’s our engagement with the European Union. You can’t prohibit [cryptocurrencies.]" He repeatedly highlighted the speculative nature of cryptocurrencies, stating, "I avoid using the term investments when it comes to cryptocurrencies. I see them more as a speculative domain."
This move marks a significant step for Moldova, whose central bank has previously issued warnings about the volatility and money laundering risks associated with digital assets. The decision to align with MiCA is strategic, as Moldova has maintained a European Union Association Agreement since 2014, creating incentives for regulatory convergence despite not being an EU member state.
The EU's MiCA framework, the bloc's first comprehensive crypto regulatory package, went into full effect for crypto-asset service providers on December 30, 2024. Moldova's alignment demonstrates a proactive approach to financial technology regulation within the Eastern European region. The minister cited countries like Estonia as an example for their legislative "simplicity."
Analysts view this as a balanced approach that could attract fintech investment and enhance financial inclusion, particularly for Moldova's substantial diaspora community, where remittances constitute approximately 15% of the nation's GDP.
