The EU is stepping up the fight against fraud involving non-cash means of payment (credit cards, online shopping, etc.) by upgrading and modernising the existing rules.
The Commission today announced new detailed measures that will pave the way for a smooth transition to new VAT (Value-Added Tax) rules for e-commerce that come into force in January 2021.
The European Central Bank (ECB) is today publishing the final cyber resilience oversight expectations for financial market infrastructures (FMIs). Cyber resilience is an important aspect of FMIs’ operational resilience and is thus also a factor affecting the overall resilience of the financial system and the broader economy.
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the TIPS launch event, Frascati (Rome), 30 November 2018.
The European Central Bank (ECB) has launched an innovative pan-European service for settling electronic payments instantly. TARGET instant payment settlement (TIPS) uses central bank money to settle payments individually in less than 10 seconds.
At this CEPS-ECRI conference, senior practitioners, high level officials and other experts will discuss the best policies for developing safe and easy to use payment methods. What should be the approach of regulators and policy-makers vis-à-vis new technologies such as artificial intelligence and machine learning? Is innovation the responsibility of the market or should it be facilitated by public measures (e.g. sandboxes, innovation labs, lower registration costs, improved access to funding)?
Main topics include: cryptocurrencies and traditional assets; blockchain regulation, security snd innovation; industrial application of the technology; decentralization of the Internet; ICOs – cryptocurrency crowdsales, present and future; successful trading strategies.
The €100,000 prize, awarded for the 9th time by the Luxembourg Ministry of Foreign and European Affairs, was given this year to Advans Côte d’Ivoire (CI) at a ceremony hosted by the European Investment Bank in Luxembourg. The 2018 Award recognises a financial services provider that uses technology, transparently and securely, to offer microfinance clients new possibilities for loans, savings, insurances and fund transfers and to ensure the efficiency of its back-office procedures.
Welcome remarks by Benoît Cœuré, Chair of the Committee on Payments and Market Infrastructures of the Bank for International Settlements and Member of the Executive Board of the ECB, at the Economics of Payments IX conference, Basel, 15 November 2018.