NFTs and cryptoassets that qualify as financial instruments, deposits, funds, insurance or reinsurance products, or pension and social security systems will not be subject to the upcoming law on the cryptoasset market. This provision is included in the draft law approved by the government on Wednesday, according to IPN.

The bill establishes the regulatory framework for the cryptoasset market and introduces rules for individuals and companies that issue, trade, or provide services related to these assets. The document specifies who may operate in this market, what obligations they will have, and which authorities are responsible for oversight.

According to the Ministry of Finance, supervisory responsibilities will fall to the National Bank of Moldova and the National Financial Market Commission. At the same time, companies will be required to provide clear information to customers and to comply with requirements designed to protect users and prevent market manipulation or the misuse of confidential information.

The law divides cryptoassets into three categories: electronic currency tokens, which derive their value from a fiat currency; asset-backed tokens, which are linked to one or more assets and other types of cryptoassets.