Lexters and CryptoSwift have partnered to support Romanian VASPs in meeting MiCA and Travel Rule compliance requirements under new EU regulations.
In essence, the partnership is aimed at assisting firms with both regulatory interpretation and cross-border data-sharing requirements under the Travel Rule.
The collaboration was announced shortly after the Romanian government published a draft Emergency Ordinance on May 26 2025, outlining its approach to MiCA implementation. Under the proposed rules, crypto exchanges, wallet providers, token issuers, and ATM operators will be required to obtain regulatory approval and align their operations with EU standards by the end of November 2025.
A focus on MiCA and Travel Rule requirements
Among other changes, the draft ordinance assigns supervisory responsibilities to two national bodies. The Financial Supervisory Authority will oversee crypto issuance, asset-referenced tokens (ARTs), and the use of crypto ATMs. The National Bank of Romania will supervise e-money tokens, which are digital representations of fiat currencies. In addition, the ASF may order the blocking of websites operated by unregistered crypto asset service providers.
Firms that are already active in the market can continue operations temporarily, provided they submit their authorisation request within 30 days of the ordinance entering into force. Full compliance, including technical audits and internal controls, is expected by 30 November 2025. These audits, to be conducted every two years or more often in case of incidents, must cover cybersecurity and system vulnerabilities.
Lexters is supporting VASPs with application submissions, compliance planning, and audit preparation, while CryptoSwift is focused on ensuring that firms are able to transmit required transaction data across borders following the Financial Action Task Force’s Recommendation 16 and the EU’s Transfer of Funds Regulation (TFR).
Officials from Lexters described the current period as a significant turning point for Romania’s digital asset sector. They emphasised that the new rules are mandatory and require immediate attention from affected entities. CryptoSwift representatives added that their infrastructure is intended to support Romanian VASPs in meeting complex data-sharing standards between jurisdictions.
