Regulatory Alerts2025-03-11
European Digital Identity: The Arrival of the EDI Wallet
The Dutch Authority for the Financial Markets (AFM) issues a supervisory report analyzing the impact of the upcoming European Digital Identity (EDI) wallet, mandated by eIDAS 2.0 regulation for all EU member states by the end of 2026. The document details how the wallet will transform financial services by enabling secure digital identification, data sharing, and electronic signatures, thereby facilitating frictionless customer onboarding and cross-border transactions. It further examines the associated opportunities for digitalization and embedded finance alongside critical risks regarding consumer vulnerability, identity fraud, and the need for adapted supervisory frameworks.
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