Payments & E-Money Regulations in Ireland

🇮🇪 CBI Enforcement high

March 24th 2026

Remarks by Deputy Governor Colm Kincaid to Central Bank of Ireland’s Consumer Protection Workshop – Consumer Protection at the Heart of Our Mission

Good afternoon and welcome to this Central Bank of Ireland workshop on the Consumer Protection Code. Today I will focus on the outlook for consumers and investors. But first let me pause to talk a little about the broader context in which we find ourselves. We are living through a period marked by extraordinary change, geopolitical instability, rapid technological transformation and shifting economic conditions. Governor Makhlouf summarised this well when he said how 2026 has already seen ext...

AI Analysis

Deputy Governor Colm Kincaid's speech on 24 March 2026 emphasizes consumer protection as central to the Central Bank of Ireland's (CBI) mission amid geopolitical, technological, and economic changes, highlighting the revised **Consumer Protection Code 2025** (CPC 2025) as a key modernization effort. This matters for compliance professionals because the CPC 2025 introduces enhanced, digitally-focused protections effective **24 March 2026**, replacing the 2012 Code after a 12-month implementation period, with firms required to proactively secure customer interests.

Sectors:

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Technology & Cyber

BankInsurancePayment Provider

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🇮🇪 CBI Consultation medium

March 5th 2026

Central Bank of Ireland Launches Discussion Paper on Tokenisation and Distributed Ledger Technology in Financial Services

Central Bank of Ireland today published a Discussion Paper examining the potential role of Distributed Ledger Technology (DLT) and tokenisation in the financial system . Deputy Governor Vasileios Madouros, commenting on the publication, said: “Distributed ledger technology and tokenisation have the potential to transform how financial services are delivered. We believe this technology, if enabled and deployed correctly, can change the financial system for the better, including by helping the ...

AI Analysis

The Central Bank of Ireland (CBI) has launched Discussion Paper 12 (DP12) on Distributed Ledger Technology (DLT) and tokenisation in financial services to explore their transformative potential in areas like markets, funds, payments, and money, while assessing opportunities, risks, and enablers such as legal clarity and interoperability. This matters for compliance professionals as it signals CBI's proactive stance on integrating these technologies into a resilient financial system, aligning with EU ambitions like the Savings and Investment Union, and invites stakeholder input to shape future policy without proposing immediate rules. (Source: https://www.centralbank.ie/news/article/press-release-discussion-paper-tokenisation-and-distributed-ledger-technology-in-financial-services-5-march-26 [publication]; https://www.arthurcox.com/insights/central-bank-issues-discussion-paper-on-dlt-tokenisation-in-financial-services/ )

What Changed

This is a non-binding discussion paper, not a regulatory change or new requirement; it poses 16 questions on topics including legal recognition of tokenised instruments, governance, infrastructure, funds (e.g., tokenised MMFs and ETFs), payments, and risks like operational resilience and interoperability. It highlights needs for policy intervention to avoid fragmented "walled gardens," ensure central bank money's role, and address challenges in fractionalisation, transparency, and settlement finality, but no mandates are imposed yet.

What You Need To Do

Review DP12 (PDF available via CBI site) and prepare/ submit responses to the 16 questions by 5 June 2026, focusing on legal clarity, risks, funds tokenisation, and enablers like interoperability
Engage in CBI's structured stakeholder dialogues to influence future frameworks
Assess internal DLT/tokenisation pilots or plans against discussed risks (e
No immediate compliance obligations, but monitor for follow-up rules; funds firms should evaluate tokenised share/unit models

Key Dates

5 June 2026 - Deadline for stakeholder submissions responding to the 16 questions in DP12. DEADLINE

Post-5 June 2026 - CBI to publish a feedback statement assessing responses and existing policy fit. (Source: https://www.centralbank.ie/news/article/press-release-discussion-paper-tokenisation-and-distributed-ledger-technology-in-financial-services-5-march-26 [publication]; https://www.arthurcox.com/insights/central-bank-issues-discussion-paper-on-dlt-tokenisation-in-financial-services/ )

Compliance Impact

Urgency: Medium – This consultative paper poses no immediate rules but represents a key opportunity to shape emerging DLT/tokenisation regulation amid CBI's 2026 priorities on tech-driven transformations and resilience; inaction risks missing input on critical enablers like legal finality for tokens, potentially leading to stricter future requirements misaligned with firm needs. It aligns with broader EU/BIS pushes (e.g., MiCA, tokenized reserves), amplifying relevance for firms in funds, payments, and crypto.

References

Sectors:

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

Topics:

Technology & Cyber Operational Resilience / Outsourcing Authorisation & Licensing

Asset ManagerBankFintech

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🇮🇪 CBI Warning high

March 2nd 2026

Central Bank welcomes publication of OECD Consumer Finance Risk Monitor

New OECD report highlights financial scams as top threat to consumers globally Deputy Governor of the Central Bank of Ireland Colm Kincaid welcomed the publication of the OECD’s Consumer Finance Risk Monitor 2026 , a comprehensive global assessment examining consumer protection challenges across 60 international jurisdictions. Deputy Governor Kincaid emphasised the need for strengthened oversight as structural economic, technological and market-conduct risks converge to significantly elevate ...

Sectors:

Banking & Credit Consumer Credit Payments & E-Money

Topics:

Consumer Protection / Conduct Technology & Cyber

BankFintechPayment Provider

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🇮🇪 CBI News

February 27th 2026

Reflections on Building Resilience and Anchoring Stability

In his latest blog, the Governor Gabriel Makhlouf reflects on the publication of the Regulatory and Supervisory Outlook 2026 and the recent Access to Cash report.

Sectors:

Banking & Credit Payments & E-Money

Topics:

Operational Resilience / Outsourcing Consumer Protection / Conduct

BankPayment Provider

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🇮🇪 CBI Speech medium

February 24th 2026

Central Bank of Ireland publishes first access to cash report

The Central Bank of Ireland has today (24 February) published its first quarterly Access to Cash report . The Finance (Provision of Access to Cash Infrastructure) Act 2025 has put in place a framework to ensure sufficient and effective access to cash across the State. Today’s report uses newly collected data to show the number, location and opening hours of ATMs and cash service points across eight geographical regions in Ireland, as of 31 December 2025. The Minister for Finance set the acces...

Sectors:

Banking & Credit Payments & E-Money

Topics:

Consumer Protection / Conduct Reporting & Disclosure

BankPayment Provider

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🇮🇪 CBI Enforcement medium

February 18th 2026

Institutions, Anchors, and Their Discontents: The Role of Central Banks - Speech by Governor Gabriel Makhlouf to Blavatnik School of Government

It is a pleasure to be here in Oxford 1 While I’m aware that this is a school of government and I’m a central banker, the two are inextricably linked. Societies and indeed economies are shaped by their institutions, specifically the legal, social, cultural, formal and informal norms that impact the way citizens interact with each other. Successful institutions are those that are trusted by the societies that created them and for which they ultimately serve. Today I am going to resist the oppo...

AI Analysis

Governor Gabriel Makhlouf's speech at the Blavatnik School of Government addresses central bank independence as a foundational institutional mechanism for delivering price stability and economic prosperity, rather than as a shield from accountability. The speech is not a regulatory enforcement action or new requirement, but rather a governance statement clarifying the Central Bank of Ireland's institutional philosophy on independence, credibility, and accountability—matters that directly affect how the CBI exercises supervisory discretion over regulated firms.

Sectors:

Banking & Credit Capital Markets & Trading Payments & E-Money

Topics:

Senior Managers / Governance Operational Resilience / Outsourcing Prudential / Capital Requirements

BankAsset ManagerPayment Provider

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🇮🇪 CBI News

January 16th 2026

Central Bank of Ireland and Banca d’Italia launch first joint Innovation Data Challenge

Central Bank of Ireland and Banca d’Italia are launching the Innovation Data Challenge 2026, a joint initiative designed to foster cutting-edge research and innovation in the retail payments sector. The Challenge reflects the shared commitment of the two Institutions to promoting applied research, international collaboration, and the responsible use of data and technology to shape the future of payments. The initiative brings together leading Irish and Italian universities, including Universi...

Sectors:

Payments & E-Money

Topics:

Technology & Cyber Authorisation & Licensing

FintechPayment Provider

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🇮🇪 CBI News

December 5th 2025

The Digital Euro: shaping the future while preserving trust

In this blog, Governor Gabriel Makhlouf writes about the development of the Digital Euro and how central banks foster trust and safety in the financial system and in the implementation of projects like the Digital Euro.

Sectors:

Banking & Credit Payments & E-Money Crypto & Digital Assets

Topics:

Consumer Protection / Conduct Prudential / Capital Requirements Technology & Cyber

BankFintechCrypto Exchange

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🇮🇪 CBI Consultation high

December 5th 2025

Central Bank of Ireland launches Access to Cash consultation

The Central Bank of Ireland has today (5 December) launched a public consultation on the implementation of our new Access to Cash responsibilities. Deputy Governor Vasileios Madouros said: “Amid a rapidly evolving payments landscape, the Central Bank of Ireland is committed to making sure that cash continues to be readily available as a means of payment. Today’s consultation is an important step towards the implementation of the Central Bank’s new responsibilities under the Access to Cash leg...

AI Analysis

The Central Bank of Ireland has launched a public consultation on implementing new **Access to Cash** responsibilities under the Finance (Provision of Access to Cash Infrastructure) Act 2025, which commenced on 30 June 2025. This consultation addresses two critical areas: identifying local deficiencies in cash infrastructure and establishing minimum ATM service standards. The initiative reflects regulatory commitment to ensuring cash remains readily available as payment preferences shift toward digital channels.

Sectors:

Banking & Credit Payments & E-Money

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Reporting & Disclosure

BankPayment Provider

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🇮🇪 CBI Enforcement high

November 6th 2025

The Central Bank takes enforcement action against Coinbase Europe Limited for anti-money laundering failures

The Central Bank of Ireland has fined Coinbase Europe Limited €21,464,734 for breaching its anti-money laundering and counter terrorist financing transaction monitoring obligations between 2021 and 2025. The Central Bank of Ireland (the Central Bank) has fined Coinbase Europe Limited (Coinbase Europe) €21,464,734 for breaching its anti-money laundering (AML) and combatting terrorist financing (CFT) obligations with respect to transaction monitoring as required by the Criminal Justice (Money L...

AI Analysis

The Central Bank of Ireland (CBI) fined Coinbase Europe Limited €21,464,734 for AML/CFT transaction monitoring failures under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (CJA 2010), involving over 30 million unmonitored transactions worth €176 billion from April 2021 to March 2025. This marks CBI's first enforcement against a crypto firm, highlighting regulators' focus on robust real-time monitoring and timely Suspicious Transaction Reporting (STR) for virtual asset service providers (VASPs). It matters as it sets a precedent for EU crypto compliance amid MiCA and AMLA implementation, signaling increased scrutiny and potential multimillion-euro penalties for similar lapses.