Regulatory Alerts2022-03-18
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What is an electronic money institution
An electronic money institution is defined as a company whose business is to issue electronic money, with only legal persons eligible for authorization. The document categorizes these entities into licensed institutions, exempt institutions, and banks, specifying that only the first category requires a specific license from De Nederlandsche Bank (DNB). Licensed institutions benefit from a European passport allowing activities across the European Economic Area, whereas exempt institutions are prohibited from expanding outside the Netherlands.