Definition ∞ European Payments Regulation refers to the legal framework governing payment services and systems across the European Union. These regulations, such as the Payment Services Directives (PSD1, PSD2), aim to foster competition, enhance consumer protection, and promote innovation in the European payments market. They establish rules for payment service providers, secure payment transactions, and define rights and obligations for users and providers. The regulatory scope covers traditional banking, electronic money institutions, and emerging payment methods.
Context ∞ The European payments landscape is subject to continuous legislative updates, driven by technological shifts and the need to address new forms of digital value transfer. A significant discussion involves adapting existing regulations to effectively oversee digital assets and blockchain-based payment solutions, ensuring market integrity and consumer safety. The ongoing development of these regulations seeks to balance innovation with financial stability and anti-money laundering efforts.
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