A public university in the Romanian city of Sibiu in the Transylvania Lucian Blaga University of Sibiu will allow students to pay for their admission fees in crypto.
It has been reported that the institution plans to implement crypto payment methods for its more than 11,000 students starting in July. Students will be able to pay for admission fees, tuition is around $1,000 per year for undergraduates, using Elrond (EGLD), which the university will then convert to Romanian leu.
Will you like to pay your school fees with #Bitcoin? A public university in the Romanian city of Sibiu in Transylvania has said it will allow students to pay for their admission fees in crypto. https://t.co/TyYoAFfXDC — Cointelegraph (@Cointelegraph) April 12, 2021
University rector Sorin Radu said:
“Our university has been and will continue to be a supporter of the community and local business, and the decision to develop this partnership with Elrond is part of this strategy.”
However, according to legislation implemented in July, exchange providers that monitor the purchase of crypto with fiat currency and vice versa must now be authorized if they operate in Romania.
Many crypto users handling digital assets in the country are required to use exchanges that incorporate Know Your Customer requirements and comply with both domestic and foreign Anti-Money Laundering (AML) provisions.
Thus, Elrond has recently seen some significant changes, including its mainnet swap last year as the ERD token became EGLD.