If you’ve invested in cryptocurrencies and want to cash out this year, the following article is for you. Below we will outline what you really need to do if you have made profits from cryptocurrencies.
Income tax applies strictly on profits made from cryptocurrencies. If you bought bitcoin or another cryptocurrency at the end of last year and you don’t want to mark up the profit, you don’t have to pay tax on the profit!
Parliament passed a law last year by which Romanians who make profits from crypto no longer have to pay tax on cryptocurrencies.
On November 11, 2024, many Romanians involved in cryptocurrency transactions received with excitement the news of the adoption of a law providing for tax exemption for income earned from cryptocurrencies until July 31, 2025.
The Chamber of Deputies, as the decision-making body, adopted with 158 votes in favor and 40 against the law approving Government Emergency Ordinance No. 107/2024. This concerns fiscal-budgetary measures related to the management of budget receivables and the budget deficit for the 2024 consolidated general budget, as well as the amendment of some normative acts.
Although initially the Government did not include provisions related to cryptocurrencies in the ordinance, MP Sabin Sărmaș managed to introduce an amendment whereby the income from cryptocurrency transactions is exempt from tax until July 31, 2025 inclusive. Sabin Sarmas declared two years ago that he trusts those who have invested in cryptocurrencies, more details you can find in the article written by Hotnews.
“By derogation from the provisions of art. 116 para. (2) of Law no. 227/2015 on the Tax Code, as amended and supplemented, individual taxpayers are exempt from income tax on the income realized from the difference between the income from investments in virtual currencies acquired for resale and the income realized and received in virtual currencies, up to and including July 31, 2025”
President Johannis did not promulgate the law but sent it to the CCR
On December 5, 2024, the Parliament sent the law to the Presidency for promulgation.
On December 20, 2024, the Constitutional Court was notified by President Klaus Iohannis on the unconstitutionality of the law. It is important to note that this referral does not concern the provision on tax exemption for cryptocurrency income, but a tax facility granted to employees of the Baptist Theological Institute, introduced by parliamentarians.
In the complaint sent to the Constitutional Court, Klaus Iohannis calls for its admission and for the law to be declared unconstitutional.
Subsequently, on December 24, 2024, the Constitutional Court asked the Chamber of Deputies to express its views on the law by February 4, 2025, given that the debates in the CCR are scheduled for February 18, 2025.
In reality what crypto taxes are there and what do the concerned citizens have to do?
At the moment the law has not entered into force, so all those who have made a profit from investing in cryptocurrencies have to pay a 10% tax. An example would be that if you bought a bitcoin when it was worth $30,000 and sold it when it was worth $90,000, you would have to pay 10% of the $60,000 profit.Those who made profits of less than 600 lei in a tax year are exempt. Those who have realized profits can download from here the form 212 for filing the single return 2025 online. This file can be edited and subsequently uploaded the document on the ANAF portal.
Abarai recommendations on cryptocurrency taxation
If you are a cryptocurrency holder and have made a profit, we recommend you to be very diligent about the taxes you have to pay. Do not try to “cheat” the Romanian state as you may suffer criminal consequencesBuy cryptocurrencies from reputable platforms such as Abarai. A Romanian exchange that offers phone support in Romanian. If you want to buy cryptocurrencies but you don’t have a wallet you can read the following article which shows in a very simple way how you can make a bitcoin wallet.
Do not invest in cryptocurrencies if you are not seriously interested
Many people invest in cryptocurrencies with the thought that it could make them rich overnight. Some of them are influenced by “influencers” or people in the cryptocurrency industry who promise huge gains. More on this topic can be found on the article “The cryptocurrency market: the $3 trillion industry that almost nobody understands“
If I swap between cryptocurrencies and make a profit in crypto pairs. Do I have to pay taxes on crypto?
NO! If you swapped Ethereum for Bitcoin , i.e. you did a swap, you don’t have to pay cryptocurrency tax. Crypto taxes only arise when you convert cryptocurrencies into fiat currency (Lei, USD, EUR etc…) .
The current legislation does not provide for authentication or taxation measures on cryptocurrency swaps but only when the swap is between cryptocurrency and fiat or vice versa.
If I sold bitcoin at a bitcoin ATM and got cash do I still have to pay taxes?
The answer is YES! The legislation requires you to pay tax on all gains that generate you a profit of more than 600 Lei in a tax year. Even though you bought bitcoin from an ATM and subsequently sold it also at a bitcoin ATM, it is your duty as a citizen to honestly declare your earnings.
Key aspects of this article! what to remember:
✅ Taxation applies only to realized income, and the new law proposes exemption until July 31, 2025
If you don’t sell the cryptocurrencies you sell and don’t cash the profit, you don’t have to pay tax.
On November 11, 2024, the Chamber of Deputies passed a law exempting crypto income from tax until July 31, 2025.
The law is not yet in force as it has been challenged at the Constitutional Court by President Klaus Iohannis.
✅ Current crypto taxes in Romania
10% tax on cryptoprofits.
Exemption for incomes below 600 lei/year.
✅ Obligation to declare crypto income
Profits must be reported through the Single Declaration (Form 212) and submitted to ANAF.
Even if you used cryptocurrency ATM, you must declare your income !
✅ Swaps between cryptocurrencies are not taxed
If you swap between cryptocurrencies (e.g. BTC → ETH), you pay no tax.
Crypto taxes only apply when you convert cryptocurrencies into fiat currency (LEI, EUR, USD).
✅ Compliance is essential
Avoiding declaring crypto income can have legal consequences.
It is recommended to use secure and regulated platforms for trading.