RegAlert2015-03-02 | NBB_2015_11Added
National Bank of Belgium Exemption Policy under Article 105 of the Law of 21 December 2009 (Electronic Money)
Legal entities issuing electronic money with an average circulation not exceeding 5,000,000 euros are exempt from most provisions of Book 3 of the Law of 21 December 2009, provided they meet specific capital, governance, and anti-money laundering requirements. Exempt entities must maintain a minimum own funds level of 2% of the average electronic money in circulation, limit the stored value on electronic wallets to 150 euros, and submit semi-annual circulation reports and annual balance sheet data to the National Bank of Belgium. These entities are prohibited from using the European passport regime, must operate with their registered office in Belgium, and are required to appoint an approved auditor to verify compliance with fund protection and circulation cap obligations.
NBB published 1 document in the last 30 days — get each new one by email the day it lands.
NBB_2015_11 – 2 March 2015 Circular – Page 1/4 boulevard de Berlaimont 14 – BE-1000 Brussels tel. +32 2 221 38 12 – fax + 32 2 221 31 04 company number: 0203.201.340 RPM Brussels www.bnb.be
Circular
Brussels, 2 March 2015
Reference: NBB_2015_11 your contact:
Kurt Van Raemdonck tel. +32 2 221 53 39 – fax +32 2 221 31 04 kurt.vanraemdonck@nbb.be
National Bank’s exemption policy based on Article 105 of the Law of 21 December 2009 (electronic money)
Scope
Legal entities exempted based on Article 105 of the Law of 21 December 2009 concerning the status of payment service institutions and electronic money institutions, access to the activity of payment service providers, the activity of issuing electronic money, and access to payment systems (hereinafter “the Law”).
Read the rest free, and get an email when NBB publishes again
Lineage: In force
Source: National Bank of Belgium — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from NBB
NBB published 1 document in the last 30 days. We email you each new one the day it's published.