Payment services
Why is the ECB eyeing a ‘digital euro’?
The European Central Bank will on Monday (12 October) launch a public consultation and start experiments to help it decide whether to create a "digital euro" for the 19-nation currency club.
Big euro economies push for strong cryptocurrency rules
The finance ministers of France, Germany, Italy, the Netherlands and Spain called on the European Commission to include “strong rules” in its upcoming cryptocurrency proposal, in particular for global digital tokens like Facebook’s Libra.
Commission to present ‘strong’ rules for Facebook’s Libra
The European Commission will present later this year new rules to develop a “sound” crypto-asset market in the EU, including for stablecoins such as Facebook’s digital currency Libra, financial services commissioner Valdis Dombrovskis, said on Tuesday.
ECB to embark on soul-searching process in 2020
The European Central Bank will next year review its tools and objectives in order to better fulfil its mandate of price stability, and it also intends to assess the appropriateness of issuing its own digital currency, in the face of growing concerns about Facebook’s Libra.
Commission wary of side effects of Libra regulation
The European Commission has called for a “proportionate” and differentiated approach to regulating digital currencies including Facebook’s Libra, as the EU needs to preserve is developing Fintech environment.
EU divided over implementation of payments directive
The European Commission questioned on Wednesday (25 September) some member states’ decision to grant at least 18 months to banks for the full implementation of the European Payments Services Directive 2, which requires stronger authentication procedures for online payments.
EU member states to look into Facebook’s controversial Libra
The Economic and Financial Committee (EFC), which brings together the EU’s member states, has requested an analysis note from the European Commission to further look into the risks posed by Facebook’s controversial digital currency Libra and the ways to regulate it.
G7 says Facebook’s Libra poses ‘serious risks’
The G7 listed on Thursday (18 July) the requirements Facebook’s new ‘coin' Libra should meet, as regulators are increasingly wary of the “serious risks” posed by this digital currency.
Cryptoasset investors exposed to substantial risks, two EU reports find
Cryptoassets are dangerously unregulated and may give rise to criminal activities, according to two recent assessments published by the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA).
Commission holds its fire against Bitcoin and Co.
The European Commission is still hesitant to regulate cryptocurrencies, despite a warning issued by European regulators and bans imposed in other regions following the rising market volatility of digital currencies.
EU agrees clampdown on bitcoin platforms to tackle money laundering
European Union states and legislators agreed on Friday (15 December) on stricter rules to prevent money laundering and terrorism financing on exchange platforms for bitcoin and other virtual currencies, the EU said in a statement.
ECB to enable mobile payments using phone numbers by 2018
ECB plans to link mobile phone numbers to their owners' bank accounts will facilitate bank transfers and consolidate the eurozone payments market. EURACTIV's partner La Tribune reports.
Romania and EU agencies smash cybercrime gang
Romanian police have smashed, with the help of European law enforcement agencies, a computer fraud gang accused of stealing millions of euros from unsuspecting victims, officials said Thursday (17 November).
UK fintech finds EU barriers emerging after Brexit vote
Fallout from the vote to leave the European Union is already threatening the growth of financial technology firms in Britain, industry officials said on Wednesday (2 November).
Commission champions ‘laissez-faire’ in first response to FinTech revolution
The digital revolution in the financial sector will get a helping hand from EU regulators later this year when the European Commission tables new proposals for retail financing, with a clear objective: let the revolution flourish.
New €50 note will not end forgeries, says German police chief
The chairman of the German police union, Rainer Wendt, has warned that the new €50 note will not be completely safe from forgers. EURACTIV Germany reports.
National Front calls for ban on Bitcoin
The National Front wants to preserve cash and ban Bitcoin, which it sees as an unsafe form of payment. The EU has yet to legislate on the subject. EURACTIV France reports.
Brexit a threat to London’s FinTech dominance, industry says
82% of British financial technology companies want the United Kingdom to stay in the European Union, according to recent a poll by the industry association. EURACTIV’s partner La Tribune reports.
Brexit could boost UK financial technology firms – but only in short-term
Britain leaving the European Union could give fledgling financial technology companies an immediate shot in the arm but deprive them of expansion later on, industry officials said on Monday (11 April).
MEPs green light new online payment rules
MEPs approved rules on Wednesday (7 October) to cut costs imposed on online payment services and to make them safer and more resistant to fraud. Legislators say the new measures will boost the growth of innovative online services in the payments sector.
Putin ‘sanctions’ Visa, Master Card
President Vladimir Putin said today (27 March) that Russia would develop its own credit card system, in order to reduce reliance on Western payment card companies Visa and MasterCard and soften the potential blow from EU, US sanctions.