The bill will establish a basic framework for the crypto-asset market in line with European standards (MiCA); it sets forth rules for issuers, investors, and service providers, as well as oversight and liability mechanisms. The bill’s eight chapters describe the conceptual framework for the crypto-asset market, establish rules for issuers, investors, and service providers, as well as oversight and liability mechanisms; it regulates public offerings of crypto-assets, the procedure for admission to trading, and requirements for disclosure, licensing, and supervision. The law will apply to both residents and foreign participants in the crypto-asset market operating in Moldova. The draft specifies the legal framework for three categories of cryptoassets: e-money tokens (pegged to a single currency), asset-backed tokens, and cryptoassets not falling into the first two categories. Separate requirements for issuance, circulation, and supervision are established for each category of cryptoassets. Regulatory functions will be divided: the National Bank will oversee the issuance of electronic money tokens, as well as public offerings and/or the admission of electronic money tokens to trading; the National Commission for the Financial Market will oversee the remaining segments. The document establishes requirements for service providers (custody, exchange, asset management, order execution, and consulting): mandatory authorization, capital ranging from 50,000 to 150,000 euros, internal control systems, and protection of client funds. Strict rules are being introduced for issuers, including the publication of “white papers,” disclosure of information, and management of conflicts of interest. For asset-backed tokens, additional requirements are stipulated regarding reserves, own funds (at least 350,000 euros or other financial metrics), and redemption mechanisms. The bill introduces measures to prevent abuse and specifies penalties for violations—ranging from fines to administrative and criminal liability. The new law will fill gaps in the legislative framework and establish transparent and predictable rules for the crypto-asset market, ensure compliance with European standards, boost investor confidence, and stimulate the development of alternative sources of financing. The bill will be submitted to parliament for approval. It is scheduled to take effect six months after its publication in the Monitorul Oficial. // July 22, 2026 – InfoMarket.