Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the provision of digital euro services by payment services providers incorporated in Member States whose currency is not the euro and amending Regulation (EU) 2021/1230 of the European Parliament and the Council
Date: 2023-06-28
Institutions: Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission
Subjects: electronic banking, electronic money, euro, financial services, financial transaction, intra-EU payment, provision of services, regulation of transactions, virtual currency

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   EUROPEAN COMMISSION  Brussels, 28.6.2023  COM(2023) 368 final 2023/0211 (COD)  Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the provision of digital euro services by payment services providers incorporated in Member States whose currency is not the euro and amending Regulation (EU) 2021/1230 of the European Parliament and the Council  (Text with EEA relevance) {SEC(2023) 257 final} - {SWD(2023) 233 final} - {SWD(2023) 234 final}  
 
EXPLANATORY MEMORANDUM 

1. 

• 

CONTEXT OF THE PROPOSAL 

Reasons for and objectives of the proposal 

This  proposal  complements  Regulation  (EU)  No  (XXX/XXX)  establishing  the  digital  euro 
with respect to digital euro services provided by payment services providers incorporated in a 
Member  States  whose  currency  is  not  the  euro.  Regulation  (XXX/XXX)  establishing  the 
digital  euro  is  addressed  to  Member  States  whose  currency  is  the  euro.  To  ensure  that  the 
provision  of  digital  euro  services  by  payment  service  providers  incorporated  in  a  Member 
State whose currency is not the euro in the euro area is adequately supervised by competent 
authorities of the Member State  whose currency  is  not  the euro, it is necessary to  lay down 
rules that will apply to these  payment service providers. Rules governing the accesss to and 
use  of  the  digital  euro  in  Member  States  whose  currency  is  not  the  euro  are  contained  in 
Article 18 of Regulation (EU) No (XXX/XXX) on the establishment of the digital euro.     

• 

Consistency with existing policy provisions in the policy area 

This Regulation is consistent with Directive (EU) 2015/2366 of the European Parliament and 
of the Council of 15 November 2015 on payment services in the internal market, as amended 
by  Directive  (EU)  XXX/23.  The  Payment  Services  Directive  provides  for  harmonised  rules 
governing the free provision of payment services across the Union and should also apply to 
payment transaction in digital euro. In particular, this Regulation will allow payment services 
providers incorporated in a Member States whose currency is not the euro to offer to residents 
of  the  euro  area  digital  euro  payment  services  together  with  other  payment  or  banking 
services, by means of free provision of services or free establishment.   

• 

Consistency with other Union policies 

This Regulation is necessary to avoid any fragmentation within the internal market, as all EU 
payment  services  providers,  irrespective  of  where  they  have  been  licensed,  should  be  in  a 
position to provide similar services to best serve businesses and people.  
This Regulation is consistent with the Digital Finance and Retail Payment Strategies1 of the 
Commission. That communication emphasised that a digital euro would act as a catalyst for 
innovation in payments, ﬁnance and commerce in the context of ongoing efforts to reduce the 
fragmentation  of  the  EU  retail  payments  market.  Payment  services  providers  wherever 
incorporated in the Union should therefore distribute digital euro services so that a high level 
of competition across payment services providers is ensured.   

2. 

• 

LEGAL BASIS, SUBSIDIARITY AND PROPORTIONALITY 

Legal basis 

This  Regulation  is  based  on  Article  114  TFUE,  the  same  as  Directive  (EU)  2015/2366.  By 
governing the distribution of digital euro services by payment services providers incorporated 
in  a  Member  States  whose  currency  is  not  the  euro,  this  proposal  will  secure  the  free 
movement  of  payment  services  across  the  Union.  This  proposal  will  ensure  that  payment 
services  Providers  wherever  incorporated  in  the  Union  would  be  subject  to  similar 

1 

Communication from the Commission to the European Parliament, the Council and the Committee of 
the Regions on a Digital Finance Strategy for the EU (COM/2020/591 final) 

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requirements  and supervisory standards which is necessary for the purposes of safeguarding 
financial stability and guaranteeing a level playing field across payment services providers.    

• 

Subsidiarity   

This  Regulation  would  make  applicable  the  relevant  provisions  of  the  Regulation  (EU)  No 
XX  on  the  establishment  of  the  digital  euro  to  PSPs  incorporated  in  Member  States  whose 
currency is not the euro. Regulation (EU) No XX on the establishment of the digital euro is 
based on Article 133 which is an exclusive competence of the Union.  

In  addition,  given that the objective pursued by  the proposed measures aim at  ensuring that 
existing Union legislation, based on Article 114 TFUE, will be applicable with respect to the 
provision  of  digital  euro  services  by  payment  services  providers  incorporated  in  Member 
States  whose  currency  is  not  the  euro,  this  can  be  best  achieved  at  EU  level  rather  than  by 
different national initiatives. 

• 

Proportionality  

This  Regulation  is  necessary  to  prevent  obstacles  in  the  internal  market,  between  payment 
services providers incorporated within and outside of the euro area. The obligations contained 
in this Regulation are similar to the ones laid down in the Regulation establishing the digital 
euro,  and  are  in  line  with  the  principle  of  proportionality  for  the  reasons  set  out  in  the 
explanatory memorandum accompanying that proposal.    

• 

Choice of the instrument 

A Regulation is the appropriate instrument to contribute to the creation of a single rulebook, 
having general application and being binding in its entirety and directly applicable in all the 
Member  States,  thus  removing  the  possibility  of  differences  in  application  in  the  different 
Member States. 

3. 

RESULTS 
CONSULTATIONS AND IMPACT ASSESSMENTS 

EX-POST 

EVALUATIONS, 

OF 

STAKEHOLDER 

This  proposal  is  based  on  the  ex-post  evaluations,  stakeholder  consultations  and  impact 
assessment carried out in the context of the preparation of the proposal for a Regulation on the 
establishment of the digital euro. The impact assessment of the proposal for a Regulation on 
the establishment of the digital euro was submitted to the Regulatory Scrutiny Board (RSB) 
on 14 October 2022 and approved on 25 April 2023.  

For  consistency  reasons  with  the  Payment  Services  Directive,  all  EU  payment  services 
providers  should  have  the  right  to  distribute  digital  euro  payment  service  in  the  euro  area. 
This will further contribute to an innovative and competitive retail payment market.   

In  terms  of  fundamental  rights,  this  proposal  specifically  ensures  that  the  payment  services 
providers  incorporated  in  a  Member  States  whose  currency  is  not  the  euro  benefit  from  the 
freedom  to  conduct  a  business  (provision  of  digital  euro  services)  under  Article  16  of  the 
Charter of Fundamental  Rights  of the European  Union. Respect  of other  fundamental  rights 
are further specified in the explanatory memorandum of the proposal for a Regulation on the 
establishment of the digital euro.   

4. 

BUDGETARY IMPLICATIONS 

This Regulation has no budgetary implications. 

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5. 

• 

OTHER ELEMENTS 

Implementation plans and monitoring, evaluation and reporting arrangements 

The objective of ensuring that the central bank issued money, the euro, can support the EU by 
meeting the payment needs in the digital age can be monitored on an ongoing basis based on 
data  from  the  payment  services  providers,  merchants  and  the  European  Central  Bank.  The 
total  number  and  volume  of  retail  payments  in  digital  euro  and  their  relative  share  as 
compared  to  other  payment  means  could  be  the  main  indicators  in  monitoring  the  use  of 
digital euro in the digitalized economy of the EU. 

The proposal includes a general plan for monitoring and evaluating the impact on the specific 
objectives, requiring the Commission to carry out a first  review three years after the date of 
application of the Regulation (and every three years thereafter), and to report to the European 
Parliament and the Council on its main findings. The review is to be conducted in line with 
the Commission’s Better Regulation Guidelines. 

• 

Detailed explanation of the specific provisions of the proposal 

Subject matter (Article 1)  

The purpose of this  Regulation  is  to  lay down rules concerning the specific obligations that 
payment service providers incorporated in Member States whose currency is not the euro shall 
respect  when  distributing  the  digital  euro  and  the  supervision  and  enforcement  of  those 
obligations.   

Distribution of the digital euro (Article 3) 

Without prejudice to Chapter V of the Regulation (EU) No (XXX/XXX) on the establishment 
of the digital euro governing the access and use of the digital euro outside the euro area, the 
provision  of  digital  euro  services  by  payment  service  providers  incorporated  in  Member 
States whose currency is not the euro should be primarily aimed to (i) natural or legal persons 
residing or established in the Member States whose currency is the euro, (ii) natural or legal 
persons who opened a digital euro account at the time they resided or were established in the 
Member  States  whose  currency  is  the  euro,  but  no  longer  reside  or  are  established  in  such 
Member  States,  (iii)  visitors  subject  to  the  conditions  laid  down  in  Article  20  of  the 
Regulation establishing the digital euro.  

Payment  service  providers  authorised  outside  the  euro  area  may  provide  those  services  by 
means of free establishment or free provisions of services under Directive 2015/2366.  

Applicable law and competent authorities (Articles 4 to 6) 

Article  5  clarifies  that  Directive  (EU)  2015/2366  of  the  European  Parliament  and  of  the 
Council, of  25 November 2015,  on payment services in the internal market, as  amended by 
Directive (EU) [please insert reference - proposal for a Directive of the European Parliament 
and of the Council on payment services and electronic money services in the internal market 
amending  Directive  98/26/EC  and  repealing  Directives  2015/2366/EU  and  2009/110/EC  - 
COM(2023)  366  final]  applies  to  the  digital  euro.  That  Directive  provides  that  central  bank 
money issued for retail use, and not only banknotes and coins should be considered as ‘funds’ 
within  the  meaning  of  that  Directive.  Likewise,  the  anti-money  laundering  and  counter-
terrorism  financing  (AML/CFT)  framework  laid  down  in  Directive  (EU)  2015/849  of  the 
European Parliament and of the Council, of 20 May 2015, on the prevention of the use of the 
financial system  for  the  purposes of money  laundering or terrorist  financing and Regulation 

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(EU) 2015/847 of the European Parliament and of the Council of 20 May 2015 on information 
accompanying transfers of funds should apply with respect to the digital euro. 

Payment services  providers  incorporated in  Member States  whose  currency is not euro may 
distribute the digital euro, subject to the supervision and sanction regimes of Member States 
whose currency is not the euro.  

While  competent  authorities  under  Directive  2015/2366  and  Directive  2015/849  would  be 
responsible  for  supervising  and  enforcing  any  obligations  laid  down  in  these  Union  Acts, 
based  on  Article  114  TFUE,  the  same  competent  authorities  would  also  be  responsible  for 
ensuring respect of the relevant provisions of the Regulation establishing the digital euro as 
specified under this Regulation.  

Supervisory arrangements between the competent authorities of the home Member State and 
the competent authorities of the host Member States laid down under Directive 2015/2366 and 
Directive 2015/849 should also apply with respect to the digital euro.  

Final provisions (Articles 8) 

The Regulation should enter into force on the twentieth day following that of its publication in 
the Official Journal of the European Union.   

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2023/0211 (COD) 

Proposal for a 

REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL 

on the provision of digital euro services by payment services providers incorporated in 
Member States whose currency is not the euro and amending Regulation (EU) 
2021/1230 of the European Parliament and the Council 

(Text with EEA relevance) 

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, 

Having  regard  to  the  Treaty  on  the  Functioning  of  the  European  Union,  and  in  particular 
Article 114 thereof, 

Having regard to the proposal from the European Commission, 

After transmission of the draft legislative act to the national parliaments, 
Having regard to the opinion of the European Central Bank2, 
Having regard to the opinion of the European Economic and Social Committee3, 

Acting in accordance with the ordinary legislative procedure, 

Whereas: 

(1) 

(2) 

(3) 

The Commission emphasised in the Digital Finance and Retail Payment Strategies4
 of 
September 2020 that a digital euro, as a retail central bank digital currency, would act 
as  a  catalyst  for  innovation  in  payments,  ﬁnance  and  commerce  in  the  context  of 
ongoing efforts to reduce the fragmentation of the EU retail payments market.  

Regulation  (EU)  [please  insert  reference  –  proposal  for  a  Regulation  of  the  European 
Parliament  and  the  Council  on  the  establishment  of  the  digital  euro  –  COM(2023)  369 
final]  on  the  establishment  of  the  digital  euro  establishes  the  digital  euro  and  lays 
down  rules  concerning  it,  in  particular  as  regards  its  legal  tender  status,  distribution, 
use and essential features, with a view to  adapting  the euro to technological changes 
and to ensuring its use as a single currency. 

It  is  essential  to  ensure  that  all  payment  services  providers,  whether  incorporated  in 
Member States whose currency is the euro or in Member States whose currency is not 
the  euro,  may  distribute  the  digital  euro  and  therefore  exercise  their  freedom  to 
provide  services  in  the  Union.  The  provision  of  digital  euro  payment  service  by  all 
payment  services  providers  would  contribute  to  a  high  level  of  innovation,  facilitate 
payments and increase competition across the Union and is necessary to safeguard the 
integrity  of  the  single  market.  All  payment  services  providers  incorporated  in  the 

2 
3 
4 

OJ C [...], [...], p. [...]. 
OJ C […], […], p. […]. 
Communication from the Commission to the European Parliament, the Council and the Committee of 
the Regions on a Digital Finance Strategy for the EU (COM/2020/591 final) 

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Union  should  therefore  be  in  a  position  to  distribute  digital  euro  payment  services 
under  the  same  conditions  to  natural  or  legal  persons  residing  or  established  in  the 
Member States whose currency is the euro, to natural or legal persons who opened a 
digital euro account at the time they resided or were established in the Member States 
whose  currency  is  the  euro,  but  no  longer  reside  or  are  established  in  such  Member 
States,  and  to  visitors  in  the  euro  area.  Payment  services  providers  incorporated  in 
Member States whose currency is not the euro should also be in a position to distribute 
the digital euro to any other natural or legal persons residing or established in Member 
States whose currency is not the euro and in other countries of the European Economic 
Area or any third countries subject to the conditions laid down in the Regulation (EU) 
[please insert reference – proposal for a Regulation of the European Parliament and the 
Council on the establishment of the digital euro – COM(2023) 369 final]. 

Payment services providers incorporated in Member States whose currency is not the 
euro  should  apply  the  same  rules  as  payment  services  providers  incorporated  in 
Member States whose currency is the euro for the purposes of distributing the digital 
euro. That is essential in order to ensure that the distribution of the digital euro by all 
payment services providers incorporated in the Union takes place in a uniform manner.  

The  provision  of  digital  euro  payment  services  by  payment  services  providers 
incorporated in Member States whose currency is not the euro, should be subject to the 
same  supervisory  standards  than  those  applied  to  payment  services  providers 
incorporated  in  Member  States  whose  currency  is  the  euro.  For  that  purpose,  the 
relevant provisions of Directive (EU) 2015/2366 of the European Parliament and the 
Council5,  as  replaced  by  Directive  (EU)  [please  insert  reference  –  proposal  for  a 
Directive  on  payment  services  and  electronic  money  services  in  the  internal  market  – 
COM/2023/366 final], Directive (EU) 2015/8436 as replaced by Directive (EU) [please 
insert reference – proposal for Anti-Money Laundering Directive - COM/2021/423 final] 
should apply to the supervision by competent authorities and the sanctions regime and 
supervisory  arrangements  between  the  competent  authorities  of  the  home  Member 
States  and  of  the  host  Member  States,  concerning  provision  of  digital  euro  payment 
service by  payment services providers established in Member States whose currency 
is not the euro. 

Similarly, as in case of competent authorities of Member States whose currency is the 
euro under Regulation (EU) [please insert reference – proposal for a Regulation of the 
European  Parliament  and  the  Council  on  the  establishment  of  the  digital  euro  – 
COM(2023)  369  final],  the  competent  authorities  responsible  under  Directive  (EU) 
2015/2366  for  supervising  the  provision  of  payment  services  should  also  cooperate 
with  the  European  Central  Bank  for  the  purposes  of  supervising  the  application  of 
payment-related  obligations  laid  down  in  Regulation  (EU)  [please  insert  reference  – 
proposal  for  a  Regulation  of  the  European  Parliament  and  the  Council  on  the 
establishment of the digital euro – COM(2023) 369 final]. 

Directive  (EU)  2015/2366  of  the  European  Parliament  and  of  the  Council  of  25  November  2015  on 
payment  services  in  the  internal  market,  amending  Directives  2002/65/EC,  2009/110/EC  and 
2013/36/EU  and  Regulation  (EU)  No  1093/2010,  and  repealing  Directive  2007/64/EC  (OJ  L  337, 
23.12.2015, p. 35). 
Directive  (EU)  2015/849  of  the  European  Parliament  and  of  the  Council  of  20  May  2015  on  the 
prevention  of  the  use  of  the  financial  system  for  the  purposes  of  money  laundering  or  terrorist 
financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and 
repealing  Directive  2005/60/EC  of  the  European  Parliament  and  of  the  Council  and  Commission 
Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73). 

(4) 

(5) 

(6) 

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(7) 

(8) 

In  accordance  with  Article  (4),  point  (25),  of  Directive  2015/2366,  funds  mean 
banknotes and coins, scriptural money or electronic money. As a new form of central 
bank  money  with  legal  tender,  the  digital  euro  should  be  considered  as  funds  under 
Directive 2015/2366 as replaced by Directive (EU) [please insert reference – proposal 
for a Directive on payment services and electronic money services in the internal market - 
COM/2023/366 final]  which extends  the definition  of  funds  to  all  forms  of  central bank 
money  issued  for  retail  use.  The  same  definition  of  funds  should  be  included  in 
Regulation (EU) 2021/1230 of the European Parliament and of the Council of 14 July 
2021 on cross-border payments in the Union. 

Since the objectives of this Regulation cannot be sufficiently achieved by the Member 
States as rules applicable to payment services providers should be the same regardless 
of whether they are incorporated in a Member State whose currency is the euro or not, 
but can rather, by reason of the scale or effects of the action to ensure the integrity of 
the single market, be better achieved at Union level, the Union may adopt measures, in 
accordance  with  the  principle  of  subsidiarity  as  set  out  in  Article  5  of  the  Treaty  on 
European Union. In accordance with the principle of proportionality as set out in that 
Article, this Regulation does not go beyond what is necessary in order to achieve those 
objectives. 

(9) 

The  European  Data  Protection  Supervisor  and  the  European  Data  Protection  Board 
were  consulted  in  accordance  with  Article  42  of  Regulation  (EU)  2018/1725  and 
delivered a joint opinion on [XX XX 2023], 

HAVE ADOPTED THIS REGULATION: 

Article 1 
Subject matter and scope 

This Regulation lays down rules concerning: 

(a) 

(b) 

(c) 

the  specific  obligations  that  payment  service  providers  incorporated  in  Member 
States  whose  currency  is  not  the  euro  shall  apply  when  providing  digital  euro 
payment services; 

the  supervision  and  enforcement  of  the  obligations  referred  to  in  point  (a)  by  the 
Member States whose currency is not the euro; 

the specific obligations that original equipment manufacturers of mobile devices and 
providers  of  electronic  communication  services  within  the  meaning  of  Article  2(1) 
Directive  (EU)  2018/1972  established  in  Member  States  whose  currency  is  not  the 
euro shall apply in relation to the digital euro.  

Article 2 
Definitions 

For the purposes of this Regulation, the following definitions shall apply:  

1. 

2. 

‘digital euro’ means the digital form of the single currency available to natural and 
legal  persons  as  defined  in  Article  2,  point  1  of  Regulation  (EU)  [please  insert 
reference – proposal for a Regulation of the European Parliament and the Council on 
the establishment of the digital euro – COM(2023) 369 final]; 

'payment service providers' means a payment service provider as defined in Article 4, 
point (11) of Directive 2015/2366;  

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3. 

4. 

5. 

6. 

7. 

‘digital  euro  payment  service’  means  digital  euro  payment  service  as  defined  in 
Article  2  point  (8)  Regulation  (EU)  [please  insert  reference  –  proposal  for  a 
Regulation  of  the  European  Parliament  and  the  Council  on  the  establishment  of  the 
digital euro – COM(2023) 369 final]; 

‘residence’ means the place where a natural person is legally resident in the Union as 
defined in Article 2, point (2), of Directive 2014/92/EU of the European Parliament 
and of the Council7; 

‘visitor’ means a natural person as defined in Article 2, point 22, of Regulation (EU) 
[please insert reference – proposal for a Regulation of the European Parliament and the 
Council on the establishment of the digital euro – COM(2023) 369 final]; 

‘Member State whose currency is not the euro’ means a Member State as defined in 
Article  2,  point  23,  of  Regulation  (EU)  [please  insert  reference  –  proposal  for  a 
Regulation  of  the  European  Parliament  and  the  Council  on  the  establishment  of  the 
digital euro – COM(2023) 369 final]; 

‘mobile  device’  means  a  mobile  device  as  defined  in  Article  2,  point  31,  of 
Regulation (EU) [please insert reference  – proposal for a Regulation of the European 
Parliament and the Council on the establishment of the digital euro – COM(2023) 369 
final]. 

Article 3 
Provision of digital euro payment services 

Within the framework of Directive (EU) 2015/2366, payment services providers incorporated 
in  the  Member  States  whose  currency  is  not  the  euro  may  provide  digital  euro  payment 
services to: 

(a) 

(b) 

(c) 

(d) 

(e) 

natural  and  legal  persons  residing  or  established  in  the  Member  States  whose 
currency is the euro; 

natural and legal persons who opened a digital euro account at the time they resided 
or were established in the Member States whose currency is the euro, but no longer 
reside or are established in such Member States; 

visitors; 

natural and legal persons residing or established in Member States whose currency is 
not the euro, subject to the conditions laid down in Article 18 of the Regulation (EU) 
[please insert reference – proposal for a Regulation of the European Parliament and the 
Council on the establishment of the digital euro - COM(2023) 369 final]; 

natural  and  legal  persons  residing  or  established  in  third  countries,  including 
territories  under  a  monetary  agreement  with  the  European  Union,  subject  to  the 
conditions  laid  down  in  Articles  19  and  20  of  the  Regulation  (EU)  [please  insert 
reference – proposal for a  Regulation of the European Parliament and the Council on 
the establishment of the digital euro - COM(2023) 369 final]. 

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Directive  2014/92/EU  of  the  European  Parliament  and  of  the  Council  of  23  July  2014  on  the 
comparability of fees related to payment accounts, payment account switching and access to payment 
accounts with basic features (OJ L 257, 28.8.2014, p. 214). 

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1. 

2. 

3. 

4. 

1. 

2. 

Article 4 
Applicable law 

The  requirements  laid  down  in  Article  13,  Article  14(1),  Chapter  V,  Article  18, 
Chapter  VII,  Chapter  VIII  and  Chapter  IX  of  Regulation  (EU)  No  X  on  the 
establishment  of  the  digital  euro,  shall  be  applicable  to  payment  service  providers 
incorporated  within  the  territory  of  Member  States  whose  currency  is  not  the  euro 
that  provide  digital  euro  payment  services  in  accordance  with  Article  1  of  this 
Regulation.  

The requirement laid down in Article 33 of Regulation (EU) [please insert reference – 
proposal  for  a  Regulation  of  the  European  Parliament  and  the  Council  on  the 
establishment of the digital euro – COM(2023) 369 final] shall be applicable to original 
equipment  manufacturers  of  mobile  devices  and  providers  of  electronic 
communication  services  within  the  meaning  of  Article  2  (1)  Directive  (EU) 
2018/1972 established in  Member States whose currency is not the euro.  

In  accordance  with  Article  4(25)  of  Directive  (EU)  2015/2366  of  the  European 
Parliament  and  of  the  Council,  of  25  November  2015,  on  payment  services  in  the 
internal market, as amended by Directive (EU) [please insert reference – proposal for 
a Directive on payment services  and electronic money services  in the internal market - 
COM/2023/366  final]  ,  the  provisions  of  that  Directive  shall  apply  to  payment 
transactions in digital euro. 

In  accordance  with  Article  2(10)  of  Regulation  (EU)  2021/1230  of  the  European 
Parliament  and  of  the  Council  of  14  July  2021  on  cross-border  payments  in  the 
Union  ,  the  provisions  of  that  Regulation  shall  apply  to  payment  transactions  in 
digital euro.  

Without prejudice to Articles 37 of Regulation [please insert reference – proposal for 
a  Regulation  of  the  European  Parliament  and  the  Council  on  the  establishment  of  the 
digital  euro  –  COM(2023)  369  final],  Directive  (EU)  2015/849  of  the  European 
Parliament and of the Council, of 20 May 2015, on the prevention of the use of the 
financial  system  for  the  purposes  of  money  laundering  or  terrorist  financing  and 
Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 
2015 on information accompanying transfers of funds shall apply with respect to the 
digital euro.  

Article 5 
Competent authorities 

Directive (EU) 2015/2366 of the European Parliament and of the Council shall apply 
to the supervision by competent authorities and the sanctions regime and supervisory 
arrangements between the competent authorities of the home Member States and of 
the  host  Member  States,  concerning  the  activities  of  payment  service  providers 
established  in  Member  States  whose  currency  is  not  euro  in  relation  to  the  digital 
euro for the purposes of applying this Regulation  and the obligations referred to  in 
Chapters IV, V, VI and VII of Regulation (EU) [please insert reference – proposal for 
a  Regulation  of  the  European  Parliament  and  the  Council  on  the  establishment  of  the 
digital euro – COM(2023) 369 final].  

Directive (EU) 2015/843 shall apply to the supervision by competent authorities and 
the  sanctions  regime  and  supervisory  arrangements  between  the  competent 
authorities of the home Member States and of the host Member States concerning the 

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activities  of  payment  service  providers  incorporated  in  Member  States  whose 
currency  is  not  euro  established  in  relation  to  the  digital  euro  for  the  purpose  of 
applying thus Regulation and the obligations contained in Chapter  IX of Regulation 
(EU) [please insert reference  – proposal for a Regulation of the European Parliament 
and the Council on the establishment of the digital euro – COM(2023) 369 final].   

Article 6 
Cooperation with the European Central Bank 

For the purposes of supervising the application of Chapters IV, V and VII of the Regulation 
(EU)  [please  insert  reference  –  proposal  for  a  Regulation  of  the  European  Parliament  and  the 
Council  on  the  establishment  of  the  digital  euro  –  COM(2023)  369  final]  the  competent 
authorities referred to in Article 4(1) shall cooperate with the European Central Bank.  

Article 7 
Amendments 

Article 2(10) of Regulation (EU) 2021/1230 of the European Parliament and of the Council of 
14  July  2021  on  cross-border  payments  in  the  Union  is  replaced  by  “‘funds’  means  central 
bank money issued for retail use, scriptural money or electronic money”. 

Article 8 
Entry into force and application 

This Regulation shall enter into force on the twentieth day following that of its publication in 
the Official Journal of the European Union. 

This Regulation shall be binding in its entirety and directly applicable in the Member States in 
accordance with the Treaties.  

Done at Brussels, 

For the European Parliament 
The President 

For the Council 
The President 

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