European Central Bank to step up oversight of cryptocurrency payments
The governing council of the European Central Bank (ECB) approved expanding oversight of electronic payments to cover cryptocurrency transfers and digital token payments.
According to a press release issued by the ECB on Monday, the new policy is part of the central bank's updated framework for Eurosystem electronic payment instruments, schemes and mechanisms (PISA).
The ECB plans to use the new PISA framework to oversee companies in the electronic payments industry, focusing on market segments such as electronic money transfers, digital payment tokens and e-wallets.
"The PISA framework will cover services related to cryptoassets, such as the acceptance of cryptoassets by merchants as part of card payments and the ability to send and receive cryptoassets through an e-wallet," the statement said.
