Regulatory Alerts2025-02-12
Electronic Money Law 21/2011 of 26 July (Modified by Law 10/2014)
The Spanish State enacted Law 21/2011 to regulate the professional issuance of electronic money and establish the prudential supervision framework for electronic money institutions. The law reserves this activity to specific entities including credit institutions, authorized electronic money institutions, and public authorities, while removing their classification as credit institutions to create a more proportionate regulatory regime. It mandates authorization by the Ministry of Economy, requires adequate guarantees for funds received, and prohibits the payment of interest on electronic money balances.
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