What steps must a Romanian payment service provider take to comply with ASF regulatory changes and customer data protection?

Question

I operate a small payment service in Romania and want to understand how the latest ASF regulatory updates affect licensing, capital requirements, and data protection. What exact filings, audits, and thresholds must I meet, and what are the deadlines? Should I engage legal counsel to ensure full compliance and avoid penalties?

Law Offices Syapri Chan &amp; Partners · Accepted Answer

In short: for payment services in Romania, the main \"boss\" is not the ASF, but the National Bank of Romania (BNR) for payment services. The ASF is now particularly relevant if your business touches crypto/digital assets (MiCA) and the DORA (ICT/digital operational resilience) regulation. Data protection is handled by the personal data authority ANSPDCP under GDPR + Law 190/2018. If you are willing, please contact us through Lawzana. Thank you.

Hammond si Asociates · Answer

The authority to handle regisrration matters is the National Bank of Romania. The requirements as to capital will depend on the nature of your business. Without more details I cannot giv an outline of the advice.

What steps must a Romanian payment service provider take to comply with ASF regulatory changes and customer data protection?

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Law Offices Syapri Chan & Partners

Hammond si Asociates

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