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When do crypto firms need additional EU licences for stablecoin transfers? EBA issues guidance on the interplay between PSD2 and MiCA

The Payments Association

Streamlined PSD2 authorisation: Where additional PSD2 authorisation is required, NCAs are advised to streamline procedures and leverage information already provided under MiCA. E.g. as a payment institution or an electronic money institution.

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UK Financial Conduct Authority plans to reform safeguarding rules for e-money and payment institutions

The Payments Association

On 25 September 2024, the UK Financial Conduct Authority (FCA) published its long-awaited Consultation Paper (CP24/20) setting out proposed changes to the safeguarding rules applicable to electronic money institutions (EMIs) and payment institutions (PIs) (together, payments firms).

Rules 88
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How payment firms can prepare for the FCA’s proposed safeguarding regime

The Payments Association

The proposals will impact authorised payment institutions, e-money institutions, and other relevant firms, with a broader interest for consumers, insolvency practitioners, and legal professionals.