The President of Romania promulgated Law no. 207\/2021 through which digital currencies are considered cashless financial instruments.<\/p>\n\n
Under the new legal provisions, virtual currencies are defined as “a digital representation of the value that is not issued or guaranteed by a central bank or public authority, is not necessarily linked to a legally established currency and does not have the legal status of currency or money, but is accepted by individuals or legal as a medium of exchange and can be transferred, stored and traded electronically.<\/em>\u201d<\/p><\/blockquote>\n\n
Starting with July 25, 2021, the Penal Code will punish with imprisonment from 2 to 7 years piracy and abuse of trust<\/strong> by defrauding creditors.<\/h2>\n\n
The regulation aims to criminalize the crimes of computer fraud, carry out illegal transactions with non-cash payment instruments, put into circulation or acquire counterfeit values without cash when they are made in connection or using digital currencies (Bitcoin, Ether, etc.). .<\/p>\n\n
We hear more and more about cryptocurrencies, especially in the context of digitization<\/a> . <\/p>\n\n
For those who are not passionate about this field, the topic may seem uninteresting. This is all the more so as, even for a technology lover, the mechanism by which these cryptocurrencies appear, are stored and can be traded is not easy to understand.<\/p>\n\n
However, both China and Sweden have launched their own digital currencies ( Yuan Coin and e-Krona<\/a> ) developed through blockchain technology. Under these conditions, there is an obvious tendency to introduce them in the financial circuits in parallel with the classic currency.<\/p>\n\n
From this perspective, law no. 207\/2021 is a very modern law. This establishes the legality of using this type of non-cash payment in commercial transactions, which has been challenged by many strangers so far.<\/p>\n\n
The law includes severe penalties and penalties for those who generate or obtain illicit cryptocurrency or criminal activity.<\/h2>\n\n
As you know, Magister launched for the first time in Romania, at the beginning of this year, the cryptocurrency payment<\/a> service. The service is available directly at the cash register in the SmartCash POS application. <\/p>\n\n
Thus, any merchant in Romania can accept payments made with cryptocurrency directly at the cash register, using the SmartCash solution.<\/p>\n\n\n
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