Lucian Blaga University of Sibiu (LBUS), (public university in the city of Sibiu, in Transylvania) will implement cryptocurrency payments for its students starting from July: they will be able to pay the tuition fee, equal to approximately $ 1,000 per year. year, using Elrond (EGLD). The Elrond project – born thanks to an Ico on Binance – is based in Sibiu and many team members have graduated from the local university.
Elrond plans to conduct other collaborations with LBUS in the future, including research activities. According to a new law introduced in July, exchanges that allow the purchase of crypto with fiat currency and vice versa must obtain a specific license in order to operate in Romania. Those who trade cryptocurrencies in the country are therefore required to use exchanges that have KYC verifications and comply with anti-money laundering provisions. Once the cryptocurrencies have been received as payment of the tuition, the university will then take care of converting the cryptocurrency into Romanian lei.
