The Republic of Moldova is taking decisive steps toward integrating its financial regulatory framework with that of the European Union by initiating the process of regulating cryptocurrencies under rules highly analogous to the EU’s landmark Markets in Crypto-Assets (MiCA) regulation. This move, spearheaded by Moldovan financial authorities, signals a serious commitment to ensuring legal clarity and robust investor protection within the digital asset sector.
MiCA, which is set to fully apply across the EU by late 2024, establishes a comprehensive, standardized regime covering the licensing of Crypto-Asset Service Providers (CASPs), issuance transparency, and strict rules for stablecoins. By mirroring this framework, Moldova, which holds EU candidate status, aims to achieve critical regulatory alignment, thereby facilitating deeper economic integration and attracting legitimate international businesses.
The proposed Moldovan regulations will mandate licensing for entities offering key crypto services, including exchange, custody, and transfer. Crucially, the legislation will enforce stringent Know-Your-Customer (KYC) and Anti-Money Laundering (AML) standards, ensuring that Moldova remains compliant with international financial integrity requirements and effectively combating illicit financial flows channeled through digital assets.
Authorities emphasize that the goal is to modernize the outdated legal infrastructure and channel innovation into a legally secure environment rather than stifling growth. If successfully implemented, Moldova will position itself as one of the first non-EU countries in the region to fully adopt MiCA standards, offering a predictable regulatory environment for CASPs seeking to operate near the EU common market.
Source: Moldova moves to regulate crypto under EU-style MiCA rules
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