E-Money Status refers to the legal classification of digital value as electronic money, typically granted by financial regulators. This designation implies that the digital asset functions as a stored monetary value, representing a claim on fiat currency and often subject to specific prudential and consumer protection regulations. Obtaining E-Money Status permits entities to issue and manage electronic money within a defined regulatory framework. It distinguishes such assets from other digital tokens.
Context
The discussion surrounding E-Money Status for stablecoins and other digital currencies is a central theme in regulatory discourse globally. Regulators are assessing whether certain digital assets meet the criteria for electronic money and the implications for financial stability. A critical future development involves harmonizing international approaches to E-Money Status, particularly for cross-border digital payments.
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