Payments & E-Money Regulations in European Union

🇪🇺 ECB News high

March 24th 2026

Anneli Tuominen: Upgrading banks’ capacity to deal with digital risks

No description available.

Sectors:

Banking & Credit Payments & E-Money

Topics:

Operational Resilience / Outsourcing Technology & Cyber Reporting & Disclosure

BankFintech

View Original

🇪🇺 ESMA Guidance high

February 27th 2026

New Q&As available

New Q&As available 27 February 2026 CCP Digital Finance and Innovation Financial reporting Issuer disclosure Transparency The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has published or updated the following Questions and Answers: European crowdfunding service providers for business Use of fiduciary (nominee) structures in equity crowdfunding (2601) Markets in Crypto-Assets Regulation (MiCA) Clarification on Withdrawal Requirements under Article 7...

AI Analysis

ESMA has published or updated multiple Q&As covering European crowdfunding, MiCA for crypto-asset service providers (CASPs), EMIR for central counterparties (CCPs), and Transparency Directive requirements on financial reporting and alternative performance measures (APMs). These updates provide clarifications on operational, reporting, and disclosure obligations, enhancing supervisory convergence and compliance certainty amid evolving EU regulations like MiCA and IFRS 18. Compliance professionals must prioritize these to avoid enforcement risks, particularly with upcoming effective dates in 2027.

What Changed

Crowdfunding: New Q&A (2601) on use of fiduciary (nominee) structures in equity crowdfunding, clarifying permissible structures for service providers. MiCA (CASPs): Updates include clarification on withdrawal requirements under Article 75 (2320); fixed overheads calculation (2349); interests from client funds at credit institutions (2486); fiat payouts in exchange services (2550); overlap between crypto-asset offers and placing (2551); and Title II requirements for trading platforms (2552). EMIR (CCPs): New Q&As on AAR threshold calculation (2418, 2779), AAR representativeness obligation...

What You Need To Do

Review and update policies
Crowdfunding firms
CCPs/counterparties
Issuers/reporters

Key Dates

27 February 2026 - Publication date of new/updated Q&As on crowdfunding, MiCA, EMIR, and Transparency Directive.

1 January 2027 - Effective date for new Q&A on IFRS 18 & APMs interaction (2775) and updates to APM-related Q&As (1868, 1874, 1875, 1877).

31 December 2027 - Deadline for trading platform operators under MiCA to ensure compliant white papers for legacy tokens (related context from prior MiCA Q&As). DEADLINE

Compliance Impact

Urgency: High - These Q&As address supervisory priorities in high-risk areas like crypto (MiCA) and CCP resilience (EMIR), with imminent 2027 deadlines for reporting changes aligning to IFRS 18. Non-compliance risks fines, authorization delays, or supervisory actions, especially as ESMA emphasizes convergence (e.g., AAR briefing). Firms in crypto/digital assets face heightened scrutiny amid MiCA rollout, while reporters must adapt quickly to avoid disclosure breaches.

References

Sectors:

Capital Markets & Trading Crypto & Digital Assets Payments & E-Money

Topics:

Reporting & Disclosure Authorisation & Licensing Market Abuse / Surveillance

Crypto ExchangeBroker DealerFintech

View Original

🇪🇺 ESMA Consultation high

February 23rd 2026

ESMA consults on guarantees as CCP collateral and on certain aspects of CCP investment policy

ESMA consults on guarantees as CCP collateral and on certain aspects of CCP investment policy 23 February 2026 CCP The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a public consultation following the review of the European Market Infrastructure Regulation (EMIR 3). ESMA is encouraging all interested stakeholders, including non-financial counterparties (NFCs), to share their views about: the relevant conditions under which ...

AI Analysis

ESMA has launched a public consultation under EMIR 3 to gather stakeholder input on conditions for CCPs accepting public guarantees, public bank guarantees, and commercial bank guarantees as collateral, eligibility of debt instruments for CCP investment policies, and secured arrangements for emission allowances as margins or default fund contributions. This matters because it permanently broadens eligible collateral types and extends access to NFC clients, enhancing EU CCP efficiency, competitiveness, and accessibility amid liquidity pressures in energy and other markets.