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Part 4/5 - Currency Token: Utility Token are a kind of digital voucher which can be redeemed against a promised service of the issuer. “True” Utility Token are not (yet) regulated as financial instruments in Germany.
On 16 October 2019, the European Banking Authority (EBA) published another Opinion on the updated Payment Services Directive (PSD2) and in particular its provisions on Strong Customer Authentication (SCA)
As decided by the European Council on March 21st, if the British Parliament will approve by March 29th the agreement of withdrawal agreed by the UK government with the European Union, the exit of the United Kingdom from ...
BaFin, FCA und PRA agree on supervisory cooperation after Brexit.
On 9 July 2020, the UK Financial Conduct Authority (FCA) published a 'Dear CEO' letter (the "Letter") addressed to Authorised Payment Institutions and E-money Institutions ("Firms") highlighting 6 key areas where it has ...
The UK Government has announced wide-sweeping measures including an assistive financial package of at least £330 billion to help businesses cope, which business can access from today.
Prompted by the COVID-19 crisis, the FCA is consulting on temporary guidance which will apply to payment service providers (PSPs) and electronic money institutions (EMIs). While the proposed guidance focuses on ...
On 21 January 2020, members of our international payments team shared their insights into the state of payments regulation and some of the legal issues that arise for businesses.
The second Payment Services Directive (PSD2) updates the original Payment Services Directive (PSD1) which dates back from 2007. In this article, we will discuss the most important changes in- troduced by PSD2 and the ...
Part 2/5 - Security Token: By issuing security tokens the issuer promises some sort of return. Token can qualify as securities according to the German Security Trading Act (WpHG) and German Security Prospectus Act ...