Entries by Dr. Matthäus Schindele

News about IBAN discrimination

Just as the excitement around strong customer authentication for online SEPA direct debits was beginning to settle, direct debits are under attack again: In a recent case before the CJEU, the Advocate General stated in his Opinion that it also constitutes undue IBAN discrimination if a merchant accepts SEPA direct debit payments only from customers […]

Crypto values: new regulation for Bitcoin & co.

On 20 May 2019, the German Federal Ministry of Finance (BMF) presented its draft bill on the implementation of the 5th Anti-Money Laundering Directive. The legislator has taken the new anti-money laundering requirements from the 5th Anti-Money Laundering Directive regarding trading platforms for virtual currencies and wallet providers as an opportunity to further regulate crypto […]

How does a credit card payment work?

Credit cards are becoming a popular method of payment in Germany. Approximately five percent of the turnover from all payments in Germany is processed via credit cards. Yet despite this, most people only have a very faint idea – if at all – of how a credit card payment works from a legal perspective. In […]

Geo-blocking regulation: The clock is ticking

From 3 December 2018, the so-called Geo-blocking Regulation will enter into force in the European Union and therefore also in Germany. It is intended to prevent discrimination in cross-border transactions within the European Union, including geo-blocking. Who is affected by the Geo-blocking Regulation? The Geo-blocking Regulation affects traders, i.e. business persons who offer goods or […]

AML5 update: 5th Anti Money Laundering Directive adopted

5th Anti Money Laundering Directive (AML5) tightens requirements for anonymous e-money and makes cryptocurrency platforms and wallet providers subject to money laundering law Now it’s official: The 5th Anti-Money Laundering Directive (AML5) was published in the EU’s Official Journal on the 19 June 2018. The new directive will come into force on 9 July 2018 […]