The European Central Bank Takes Crypto Over the Supervision

The Board of Governors of the European Central Bank has included an assessment of the effectiveness and security of cryptocurrency wallets and services in a new regulatory framework for the supervision of electronic payments.

According to a press release, the EU monetary authority is using a new system for oversight of companies (PISA) that enforces and supports the use of payment cards, credit transfers, direct debit, wire transfers and electronic payment tokens. PISA will also cover cryptocurrency-related services.

According to a member of the Board of Governors Fabio Pinetta, the PISA structure will include digital payment tokens, like stablecoins, along with the traditional payment instruments and schemes in which we have accumulated experience over the years.

The new regulations will be valid since November 15, 2022.

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