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E-Money License

Definition ∞ An e-money license is a regulatory authorization granted to entities that issue electronic money, permitting them to offer specific payment services within a designated jurisdiction. This license mandates adherence to financial regulations, consumer protection standards, and anti-money laundering requirements. It is a crucial credential for businesses operating with digital currencies that represent fiat value. Compliance is essential for legal operation.
Context ∞ Obtaining an e-money license represents a significant regulatory hurdle for many cryptocurrency firms aiming to provide stablecoin or fiat-backed digital payment services. The diverse and often stringent requirements across various jurisdictions create a complex compliance landscape. News often covers firms navigating these licensing processes to expand their regulated offerings.

A prominent, textured white mass, resembling an immutable ledger or protocol foundation, rises from calm, reflective blue water. Adjacent, a large, dark blue, ribbed circular structure, evocative of a smart contract execution engine or layer-2 scaling solution, is also partially submerged. This serene environment, with its soft blue gradient background, symbolizes a robust DeFi ecosystem where liquidity pools interact with digital asset architecture. It highlights underlying Web3 infrastructure and consensus mechanisms ensuring on-chain transaction integrity and decentralized governance within a distributed ledger technology framework.

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Nine European Banks Form Consortium to Launch MiCAR-Compliant Euro Stablecoin

A consortium of nine major European banks is launching a MiCAR-compliant euro stablecoin to enable near-instant, programmable cross-border payment and supply chain finance settlement.