Electronic Money Supervisory Commission

Laws and guidelines

  • RBI and Regulation of Digital Financial Services in India, 2012-2016

    The Reserve Bank of India (RBI) published its first guideline on mobile banking in 2008, and the conversation on integrating Aadhaar numbers with bank account numbers on one hand and mobile numbers on the other started as soon as UIDAI...

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  • EU state by state regulation of Bitcoin, digital curriencies what are the implications

    The European Commission’s recent decision to delay new anti-money laundering legislation by six-months is the latest in a string of new developments impacting digital currencies in the EU. This proposed directive which will now be pushed back to June 2017, proposes stricter...

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  • EU rules foster competition and innovation in e-money services.

    Electronic money (e-money) is a digital alternative to cash. It allows users to make cashless payments with money stored on a card or a phone, or over the internet.EU rules on e-money aim to facilitate the emergence of new, innovative and secure e-money...

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  • Digital Currency Roundup: Bitcoin Law Changes in Three states

    The first half of May saw significant developments on the digital currency regulation front in a trio of U.S. states. A new Vermont law allows money transmitter companies to hold digital currency as a permissible investment under state law. Signed...

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  • EU Legislative Process

    The European Commission has already published its proposal to amend ‘Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing’ to include digital currencies including bitcoin last July. The next step of the...

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  • EU regulation and cryptocurrencies

    In July 2016 the European Commission (EC) presented an “Action Plan for strengthening the fight against terrorist financing” proposing a set of strict rules on cryptocurrency regulation within an expanded framework of EU’s anti- money laundering (AML) directive. These proposals...

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  • Laws governing pre-paid instruments and mobile wallets in India

    The primary law governing pre paid instrument in India is Payments and Settlements Act, 2007. Section 18 of the Act empowers the RBI to make such regulations as may be required, from time to time, to regulate payments systems in...

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  • US State-Level Digital Currency Law and Regulation

    In the US, most states have not provided any regulatory guidance, issued new rules, or began the process of passing digital currency-specific legislation. New York issued new regulations defining a license specific for digital currency businesses commonly known as the BitLicense.Texas, Kansas,...

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  • California Virtual Currency Legislation

    On February 27, 2015, California Assemblyman Matt Dababneh, chairman of the state’s Banking and Finance Committee, introduced Assembly Bill 1326, which would prohibit a person from engaging in California in the business of “virtual currency” without a license from the California Department of...

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