DOC // Law on crypto-asset market published in Official Journal and enters into force

The Law on the Crypto-Asset Market has been published in the Official Journal of the Republic of Moldova and has entered into force. The legislation, promulgated by Presidential Decree No. 773-X of September 14, 2026, establishes the legal framework for the transparent, secure and efficient development and operation of the crypto-asset market.

The Law on the Crypto-Asset Market was drafted by the National Bank of Moldova in the context of the commitments undertaken by the Republic of Moldova under the Association Agreement with the European Union.

The new regulations aim to strengthen financial stability, protect investors and consumers, enhance legal certainty for crypto-asset issuers and service providers, and prevent and combat money laundering and terrorist financing.

The provisions of the law apply to individuals and legal entities from the Republic of Moldova, as well as to foreign nationals and stateless persons involved in the issuance, public offering, or provision of services on the crypto-asset market in the Republic of Moldova.

The legislation classifies crypto-assets into three categories: electronic money tokens, asset-referenced tokens, and other types of crypto-assets.

The law also establishes the requirements and obligations applicable to market participants. Crypto-asset service providers must provide clients with clear, accurate, and complete information and must not mislead them, whether intentionally or through negligence. They will also be required to publish on their websites their pricing policies, applicable costs and fees, as well as information on the impact of each crypto-asset on the climate and the environment.

Furthermore, the law introduces rules on prudential safeguards and the related thresholds and establishes measures to prevent and punish abuses in the crypto-asset market.

The sanctions provided for include warnings, the suspension or withdrawal of licenses, activity bans, and fines. For individuals, fines may reach millions of euros, while for legal entities they may amount to tens of millions of euros or up to 15% of turnover, depending on the nature and severity of the violation.

The law also establishes the powers of the authorities responsible for regulating and supervising the market. The National Commission for Financial Market will regulate, authorize, and supervise the issuance and trading of crypto-assets, with the exception of electronic money tokens. The Commission will also supervise the activities of crypto-asset service providers and ensure the prevention of market abuse.