When Does a Token Qualify as “Electronic Money”? The Boundary Between Stablecoins and E-Money Under EU Law
The growing popularity of stablecoins is making their legal classification increasingly important. A key issue is determining whether a token offered as a “means of payment in Web3” should in fact be classified as electronic money within the meaning of the EMD2 Directive. Why does this matter? As emphasised by Wojciech Ługowski, attorney-at-law and managing […]
Blockchain and Payment Services Law – When Does a Crypto Wallet Provider Become a Payment Institution?
The development of blockchain technology is outpacing the pace of regulatory change. This legal gap caused by rapid development often leads Web3 startups (e.g., those developing crypto wallets, payment gateways or DeFi applications) to believe that the legal framework of the “traditional” financial market does not apply to them. After all, if they do not […]