The European Central Bank’s ECB Governing Council recently approved a new electronic payments framework that would see the inclusion of cryptocurrencies, stablecoins, and digital payment tokens.
Crypto and Stablecoins Under New PISA Framework
In a press release by the ECB on Monday (Nov. 22, 2021), the improved electronic payment instruments, schemes, and arrangements, PISA an oversight framework by the Eurosystem, aims at companies that enable support for e-money transfers, payment cards, digital payment tokens, and other aspects of the electronic payments sector.
Meanwhile, the new PISA framework, which was approved after a public consultation, also has cryptocurrency payment under its regulatory purview. An excerpt from the press release reads:
“The PISA framework will also cover crypto-asset-related services, such as the acceptance of crypto-assets by merchants within a card payment scheme and the option to send, receive or pay with crypto-assets via an electronic wallet.”
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