An industry association coalition of electronic money issuers, distributors, and retailers strongly calls on the European Parliament and the Council to keep the use of popular and everyday low-value, low risk e-money products such as e-money gift cards and vouchers and to abstain from introducing a mandatory customer identification for such products.Continue Reading →
The EMA monitors and frequently responds to government and European consultations on regulation that impact the e-money and payment services industry. The relevant regulatory proposals and consultations are listed below.
The EMA submitted a request to Bank of England to (1) allow EMIs to safeguard customer funds at the Bank of England, and to (2) upgrade the Settlement Account functionality to allow access to overnight reserves.
The EMA submitted a response to the European Commission consultation on Banking Union: Review of the bank crisis management and deposit insurance framework (DGSD review) – Proposal for a directive – COM(2023)228.
The EMA provided a response to the UK Joint Money Laundering Steering Group (JMLSG) guidance on cryptoasset transfers.
The EMA submitted a response to the Financial Stability Board (FSB) consultation on the toolkit for enhancing third-party risk management and oversight.
The EMA sent a letter to the Transparency International regarding the report ‘Together in Electric Dreams’ of March 2022.
The EMA submitted a letter to the EBA on the EBA’s draft response to European Commission’s CfA on Delegated Acts under MiCAR concerning certain criteria for the classification of ARTs and EMTs as significant and the fees that are to be charged by EBA to issuers of significant ARTs and EMTs.