Electronic Money Institutions: Current Trends, Regulatory Issues and Future Prospects

Citation
Phoebus Athanassiou & Natalia Mas-Guix, Electronic Money Institutions: Current Trends, Regulatory Issues and Future Prospects (European Central Bank Legal Working Paper Series No. 7) (July 2008) (full-text).

Overview
The purpose of this paper is to examine critically the state of play in this segment of the financial services industry and to inquire how the E-money Directives might be amended to bring about enhanced legal and operational certainty, facilitate the delivery of the potential benefits of e-money and contribute to the development of e-commerce within the EU.

The discussion of the regulatory concerns raised by the E-money Directives and our inquiry into the most appropriate means of resolving these will be preceded by an examination of the e-money market's expansion hitherto and its future growth prospects within the EU.