ECB Publishes New Oversight Framework
The European Central Bank (ECB) has published a new oversight model for the PISA framework that covers electronic payment instruments, schemes and arrangements, aiming to introduce more safety and efficiency into the current and future payments ecosystem. The latest move complements the European Union’s forthcoming regulations on crypto assets, including stablecoins, and international standards for global stablecoins, the bank said.
“The retail payments ecosystem is evolving fast owing to innovation and technological change. This calls for a forward-looking approach in overseeing digital payment solutions,” Fabio Panetta, Executive Board member at the ECB, as quoted in the statement.
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