Issuing Sibcoin, if it is a currency, as defined by the law, is not in compliance with the legislation in force, the National Bank of Romania being the only institution authorized to issue currency in the form of banknotes or coins, BNR representatives told AGERPRES.
"Article 12 of Law 312/2004 specifies that BNR has the exclusive right to issue, namely the National Bank of Romania is the only institution authorized to issue currency in the form of banknotes and coins as legal tender in Romania. (...) Therefore, the functional status of this entity should be clarified. Should Sibcoin be a currency in the sense defined by law, we consider that its issuance is not in compliance with the legislation in force.We also specify that, until now, the National Bank of Romania has received no request for information regarding the issuance of monetary symbols," BNR mentions in its reply to AGERPRES.
The Consortium Sibiu European Gastronomic Region was announcing two weeks ago, on its official Facebook page that Sibiu is the first region in Romania to launch a local currency, Sibcoin, on 21 November in Bucharest, this coin being due to be used for the duration 2019, when the county will be the European Gastronomic Region.
On Monday however, the Consortium announced that SibCoin is in fact not a coin but a souvenir after the media reported that it would be illegal to launch a local currency with which to make payments.
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