Act 2011
Ley 21/2011, de 26 de julio, de dinero electrónico (Law 21/2011 of 26 July on electronic money)
Issued by Banco de España
Effective: 28 Jul 2011
Plain-English summary
Sets the regime for electronic money institutions, including their authorisation and registration (Art. 4) and issuance and redemption at nominal value (Art. 17). The BOE consolidated text was last updated on 24 November 2018, including amendments made by Real Decreto-ley 19/2018.
Who it applies to
Payments & Fintech
Topics
Payments & Fintech / Digital Assets
Obligations arising from this law or regulation
| Obligation | Timing | Regulator | Source | Detail |
|---|---|---|---|---|
| Electronic money institution authorisation and registration | Before issuing electronic money; safeguarding ongoing | Banco de España | source | |
Art. 4 of Ley 21/2011 gives the Banco de España authorisation of e-money institutions, after a report from the SEPBLAC, with a decision due within three months and silence counting as refusal. Art. 9 requires funds received in exchange for e-money to be safeguarded as in Art. 10.1.a of Ley 16/2009, with funds received through a payment instrument safeguarded within five working days of issue. |
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| No obligations match these filters. | ||||
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