Brussels is negotiating, the market is waiting: What’s next for FiDA?
There has been a lot of activity around FiDA recently. In February 2025, a rumour spread that the…
EBA’s Report on Tokenised Deposits
On 12 December 2024, the European Banking Authority (‘EBA’) published its ‘Report on tokenised deposits’ (‘EBA Report’). [1] …
EBA specifies e-money definition – What does this mean in practice?
The definition of e-money plays an important role in practice, as it determines the regulatory requirements for products…
Crypto Meets ESG – Is the Future Looking Green?
With the Markets in Crypto-Assets Regulation (“MiCAR”), the EU legislator is creating a legal framework for crypto-assets for…
Deposit from the credit institution and e-money (only) from the e-money institution?
Digital means of payment are more present in public discourse than ever; not least due to the new…
Financial Data Access Regulation (FiDA)
As part of the Retail Payment Strategy, the EU Commission has published the Financial Data Access and Payments…
BaFin publishes its expectations regarding PSD2 account access interfaces
In its supervisory notice dated October 9, 2024 (available here), the German Federal Financial Supervisory Authority (BaFin) has…
Payment tokens in the regulatory crossfire between MiCAR & PSD2/EMD2 (upcoming PSD3/PSR)
Payment tokens are those crypto-assets that are primarily used for payment purposes. The Markets in Crypto-Assets Regulation (“MiCAR”)…
Is factoring now subject to insurance tax?
In the recent past, we have increasingly observed that the Federal Central Tax Office (BZSt) wants to subject…
Customer money protection according to PSD3 and PSR
In our article from July 5, 2023 “The EU Commission’s proposals for PSD3 and PSR – an initial…
E-money under PSD3 and PSR
On June 28, 2023, the EU Commission presented proposals for a Payment Services Directive 3 (“PSD3“) and a…