Here’s a detailed article about the Banco de España’s news regarding crypto-asset service providers and PSD2, presented in a polite and informative tone:
Banco de España Clarifies Authorization Framework for Crypto-Asset Service Providers Transacting with E-Money
Madrid, Spain – July 30, 2025, 14:30 – The Banco de España has issued an important announcement today, shedding light on the authorization requirements for Crypto-Asset Service Providers (CASPs) that engage in transactions involving electronic money (e-money) under the framework of the Payment Services Directive 2 (PSD2). This clarification is a significant step in providing a more defined regulatory landscape for entities operating at the intersection of digital assets and regulated financial services within Spain.
The announcement, published on the official Banco de España website, addresses a specific scenario where CASPs, entities offering services related to crypto-assets, also facilitate transactions that incorporate or interact with e-money. Under PSD2, the issuance and management of e-money are strictly regulated activities, requiring authorization from the relevant national competent authority.
The Banco de España’s communication underscores that CASPs involved in such activities may fall under the scope of PSD2, necessitating appropriate authorization. This means that businesses that provide services such as the exchange of crypto-assets for fiat currency, or vice-versa, when these transactions are settled or involve e-money instruments, will need to assess their regulatory standing and potentially seek authorization as either a payment institution or an electronic money institution.
This development is particularly relevant for the evolving digital asset ecosystem. As crypto-assets become more integrated into mainstream financial services and user experiences, the ability to seamlessly transact with traditional financial instruments, including e-money, becomes increasingly important. However, this integration also brings with it the responsibility of adhering to established consumer protection and financial stability regulations.
The Banco de España’s proactive approach in providing this clarification aims to ensure a level playing field for all participants in the payment and crypto-asset sectors, while also safeguarding the integrity of the financial system and protecting consumers. By highlighting the potential need for PSD2 authorization, the central bank is encouraging CASPs to review their operational models and ensure compliance with existing legislation.
This announcement is likely to prompt a more thorough evaluation by many CASPs of their business models and the regulatory implications of their services. It emphasizes the Banco de España’s commitment to a regulated and secure financial environment, where innovation can flourish responsibly. Entities operating in this space are advised to consult the full details of the announcement on the Banco de España’s website and seek appropriate legal and regulatory advice to ensure full compliance.
Autorización bajo PSD2 de los proveedores de servicios de criptoactivos que transaccionen con EMT
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Bacno de España – News and events published ‘Autorización bajo PSD2 de los proveedores de servicios de criptoactivos que transaccionen con EMT’ at 2025-07-30 14:30. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.