Reading Time
~ 2 minutes
Spread the Word

Romania’s blockchain space is starting to see some movement, because as of now the country has its first blockchain organization, the United Blockchain Association of Romania.

Romania has seen an increase in its interest towards blockchain and cryptocurrencies. As a result, the first crypto and blockchain-oriented non-governmental organization (NGO) has been established. The United Blockchain Association of Romania (UBA-RO) has the main objective of representing the blockchain industry in the country.

The organization started its operations on March 22, and its representatives say its aim is to correctly inform the Romanian public, educate it, and provide the essential instruments that will guarantee safe and welcoming investment settings, which also includes legislative aspects.

The founding members are the following:

Andrei Stanica – president of the UBA-RO. He is an entrepreneur and a crypto investor, as well as the VP of another NGO, LumeAqualum.

Andrei Pipas – VP of the association, and entrepreneur.

Ruxandra Iane – UBA-RO’s secretary general. She is a freelance European fund consultant and a gender equality specialist.

UBA-RO representatives state that the organization’s mission is to develop a platform for discussion and debate to make blockchain and cryptocurrencies a subject known to the wider public.

Aside from the board of directors, UBA-RO has enlisted another 40 members.

“UBA’s objectives represent in fact the topics that we intend to address in the near future with the decision-makers in Romania, and also with the blockchain and crypto enthusiasts in our country. Our organization aims to provide an umbrella to support the common interests of those who are actively involved in this field… We want to unify the ad-hoc groups and create a strong coalition, which will be the interface in direct communication with the Government, the Parliament, the central bank and the Financial Supervisory Authority,” said Stanica.

Professional services firm Ernst and Young estimates there have been 26 Romanian initial coin offerings (ICOs) launched in countries that have regulations for the cryptocurrency market. Some of these countries are Austria, Gibraltar, Estonia, and Malta. Therefore, the establishment of UBA-RO is a common-sense move, which will help hurry the construction of an expectable legislative framework and to decrease possible scams.

In mid-February, Romania was reportedly standing still when it came to blockchain development, even though there have been allocated funds by the European Commission for blockchain projects.

Read more articles related to this subject:
Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.