Key takeout
- Romanian postal operators have installed cryptocurrency terminals at their branches to promote funding for user accounts.
- One terminal is already operating at one of the post offices, with at least four people set up side by side.
- Romania has seen an increasing number of cryptocurrency users.
Romanian postal company Posta Romana will set up cryptocurrency terminals to promote funding for users’ crypto accounts at all branches.
According to an official press release, the project is part of a pilot program running in collaboration with Bitcoin Romania (BTR Exchange), one of the nation’s leading cryptocurrency exchanges.
Bitcoin Romanian Platform Fund Account
With plans to eventually launch cryptocurrency terminals at all branches, the statement said the first terminal is already in operation within Post Office 1 in Tulcea, eastern Romania. The device allows users to deposit cash to fund their accounts on the Bitcoin Romanian platform. Next will be in four other post offices in Alexandria, Piertra Nime, Botoshani and Nadrak, and will soon be equipped with such terminals. Release added:
“This project reflects Poşta Românæ’s commitment to integrating cutting-edge technology into services and bringing innovation closer to all citizens, including non-digital sectors.”
Posta Romana has issued an official NFT
The decision by Posta Romana to set up a Cruptocurrency terminal could prove to be a bestseller given that there are at least 600,000 Romanians who have invested in cryptocurrency. This is according to Holia Guista, president of the Association of Fund Managers (AAF).
Posta Romana became the national official institution to issue official NFTs in 2022. This is a digital anniversary stamp to celebrate 160 years of service. A portion of the NFT collection was auctioned off and the funds generated were donated to the local hospice organization, Hospice Casas Paraniei. The following year, the company launched yet another collection of 100 NFTs and postcards dedicated to anti-communist heroes. The country’s national postal operators are currently undergoing a historic transformation programme, which includes 80 million loans (16 million euros) of investments for renovation and development of local logistics hubs.
Romania ranks 7th among Eastern European countries
Romania is currently experiencing a surge in cryptocurrency adoption, according to the latest report on the number of digital asset users, their holdings and inflows. A July 2024 report by Statista predicts that the number of users in the Romanian cryptocurrency market could reach 565 million by 2025. Based on these estimates, approximately 5% to 10% of cryptocurrency holders live in the country.
The country’s digital asset market user penetration is projected to exceed 29% in 2025. The October 2024 Chain Melting Report ranks Romania at 7th in Eastern European countries in terms of cryptocurrencies received between July 2023 and June 2024, with crypto influx of less than $25 billion.
Conclusion
The adoption of European MICA regulations makes the crypto industry more clear across Europe, and the Romanian crypto market must also follow these regulations. In December 2024, MICA marked the month of entry into EU application. Romania could play a leadership role in blockchain and high-tech adoption, but clearer industry regulations will support its development.
FAQ
Is Romania encrypted?
In Romania, cryptocurrencies are taxed in two ways. Profits from transactions are classified as capital gains and are taxed at 10%. If you receive a crypto as a payment for a product or service, it falls under personal income and is taxed at 10%.
Who regulates cryptography in Romania?
Similar to cryptocurrency wallet services, the provision of cryptocurrency exchanges is subject to approval and/or registration by the Committee for approval of foreign exchange activities within the Ministry of Finance.
What cryptographic apps work in Romania?
Etoro is a trading platform and crypto exchange that operates in Romania. It supports Bitcoin, Ethereum, Litecoin and many other coins.
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