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ECB expands PISA framework to cover digital currencies and stablecoins

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Aliens

Fri, Nov 26, 2021

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The European Central Bank (ECB) approved a new supervisory framework covering electronic payments. Notably, the regulatory expansion included digital currencies and stablecoins.

The bank stated that the framework will complement the upcoming EU regulations on digital currencies. ECB revealed in its press release that it is updating its regulatory approach to keep up with financial and technological developments.

The new electronic PISA (payment instruments, plans and arrangements) will also cover direct debits, credit card transfers, payment cards, and electronic money transfers. In terms of digital currency, the expanded PISA will cover “crypto-asset-related services, such as the acceptance of crypto-assets by merchants within a card payment scheme and the option to send, receive or pay with crypto-assets via an electronic wallet.”

Source: CoinGeek

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