Legal, illegal, who cares? – Sanctions for payment services and e-money business without a licence
As part of our daily advisory work, we often have to consider whether a license is required for…
Light and shadow: The revised version of the BaFin guidance note on guarantee business
On 3 April 2020, BaFin published its new guidance note on guarantee business (“New Guidance Note“). In practice,…
PayTechTalk 50: Crypto custody business – requirements for submitting a licence application to the BaFin
In today’s special anniversary episode of PayTechTalk, I’ll be talking to Alireza Siadat, a lawyer practising in the…
Crypto tokens: BaFin provides details on administrative practice
On 16 August 2019 the German Federal Financial Supervisory Authority (BaFin) published a new guidance note regarding crypto…
Strong customer authentication for online SEPA direct debits: BaFin’s clarification
You shall never ask me? But questions are useful as sometimes answers are indeed given… In one of…
On the way to the financial cloud. Are cloud services full of “little fluffy clouds”?
On 8 November 2018, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) published a guidance notice…
PayTechTalk 31 – Paymentandbanking and PayTechLaw discuss the “Bitcoin decision”
Last week I gave you an update on the Bitcoin decision. Let’s recap. On 25th November 2018 the…
PayTechTalk 30: BaFin licence for payment institutions – this is how it works
Since the implementation of PSD2, or most likely even before, many companies have been preoccupied with one question:…
Update re intra-group exemption
The German regulator BaFin lately issued a very narrow interpretation of the BaFin intra-group exemption. However, if group…
Cloud computing – outsourcing into a “cloud”
Cloud computing is playing an increasingly important role as digitalisation progresses, including in the financial sector. When using…