On the 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

PR_COD_1consamCom

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DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

on the 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 (COM(2023)0368 – C90214/2023 – 2023/0211(COD))

(Ordinary legislative procedure: first reading)

– having regard to the Commission proposal to Parliament and the Council (COM(2023)0368),

– having regard to Article 294(2) and Article 114 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C90214/2023),

– having regard to Article 294(3) of the Treaty on the Functioning of the European Union,

– having regard to the opinion of the European Central Bank of 31 October 2023,

– having regard to the opinion of the European Economic and Social Committee of 13 December 2023,

– having regard to Rule 60 of its Rules of Procedure,

– having regard to the report of the Committee on Economic and Monetary Affairs (A10-0183/2026),

1. Adopts its position at first reading hereinafter set out;

2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;

3. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

Amendment 1

AMENDMENTS BY THE EUROPEAN PARLIAMENT*

to the Commission proposal

---------------------------------------------------------

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 Bank,

Having regard to the opinion of the European Economic and Social Committee,

Acting in accordance with the ordinary legislative procedure,

Whereas:

(1) The Commission emphasised in the Digital Finance and Retail Payment Strategies 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.

(2) Regulation (EU) …/…* on the establishment of the digital euro establishes the digital euro and lays down rules concerning it, in particular as regards its issuance, 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.

(3) It is essential to ensure that, while payment service providers incorporated in Member States whose currency is the euro are mandated to distribute the digital euro, payment service providers incorporated in Member States whose currency is not the euro may also 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 service 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.

(3a) All payment service providers incorporated in the 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 payment account at the time they resided or were established in the Member States whose currency is the euro, but no longer reside nor are established in such Member States, and to visitors in the euro area. Payment service 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) …/…*, including where those natural or legal persons decide to exercise their right of free movement in a Member State whose currency is the euro. Additionally, payment service providers incorporated in Member States whose currency is not the euro should also be in a position to distribute the digital euro to citizens of a third country that benefit from a specific arrangement creating free movement rights in part of the Union.

(3b) The European Central Bank should be able to define and impose restrictions on the access and use of the digital euro by visitors to the euro area and by natural or legal persons formerly resident or established in a Member State whose currency is the euro.

(3c) For the benefit of the single market and to offer a more complete user experience for the digital euro, payment service providers incorporated in Member States whose currency is the euro should be able to provide digital euro payment services to merchants residing or established in a Member State whose currency is not the euro, or in a third country, thereby allowing those merchants to receive digital euro payment transactions from persons who might be provided with digital euro payment services by payment service providers incorporated in Member States whose currency is not the euro. That possibility is independent from the specific conditions for the distribution of the digital euro outside the euro area set out in Regulation …/…** and is subject to the applicable national law of the Member State or third country where the merchant allowed to receive digital euro payment transactions is established.

(3d) Where a credit institution incorporated outside the euro area already has natural persons as clients who are resident in a Member State whose currency is the euro, that credit institution should be able to provide them with basic digital euro payment services. The requirements that should cumulatively be met for that purpose are (i) the credit institution should already provide digital euro payment services related, at least, to the access and use of the digital euro, the initiation and reception of digital euro payment transactions and the management of digital euro payment accounts; (ii) the credit institution should provide those digital euro payment services for three consecutive years to at least 400 000 natural persons residing in the euro area or to at least 5 % of the resident population in a single Member State whose currency is the euro; and (iii) the clients to which the basic digital euro payment services are provided should not have another payment account that provides mandatory digital euro payment services. As an alternative to providing basic digital euro payment services, the credit institution should be able to offer its clients the possibility to request those services from one of its branches or subsidiaries located in a Member State whose currency is the euro.

(3e) Notwithstanding the obligation in principle to join the euro area once the convergence criteria established in Article 140 of the Treaty on the Functioning of the European Union are met, Member States whose currency is not the euro should monitor the effects of the use of the digital euro alongside their national currency and, if appropriate and necessary having regard to their corresponding report, take limited measures.

(4) Payment service providers incorporated in Member States whose currency is not the euro should apply the same rules as payment service providers incorporated in Member States whose currency is the euro for the purposes of distributing the digital euro, including the rules on the mandatory acceptance of the digital euro. That is essential in order to ensure that the distribution of the digital euro by all payment service providers incorporated in the Union takes place in a uniform manner.

(5) The provision of digital euro payment service 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 service 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 Council, 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) 2015/843 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 service providers established in Member States whose currency is not the euro.

(6) Similarly, as in case of competent authorities of Member States whose currency is the euro under Regulation (EU) …/…*, the competent authorities responsible under Directive (EU) 2015/2366 for supervising the provision of payment services should also, where relevant, cooperate with the European Central Bank for the purposes of supervising the application of payment-related obligations laid down in that Regulation (EU).

(7) 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.

(7a) Digital euro users should be free to choose the possibility they deem best suitable for authenticating themselves and authorising digital euro transactions, which should include the possibility of using European Digital Wallets. For that purpose, Article 5a(7) of Regulation (EU) No 910/2014 of the European Parliament and of the Council should be amended to reflect that where a provider of European Digital Identity Wallets allows for the integration and use of payment instruments, that provider should ensure that, upon request, a digital euro user is able to access that user’s digital euro account information and initiate digital euro transactions via the user’s European Digital Identity Wallet. Use of the European Digital Identity Wallet should be voluntary and should contribute to a seamless and protected user experience, reduce administrative burden and strneghten trust, security and user control over personal data.

(8) Since the objectives of this Regulation cannot be sufficiently achieved by the Member States as rules applicable to payment service 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 17 October 2023,

HAVE ADOPTED THIS REGULATION:

Article 1 Subject matter and scope

This Regulation lays down rules concerning:

(a) 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;

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

(c) the specific obligations that original equipment manufacturers of mobile devices and providers of electronic communication services within the meaning of Article 2(1) of Directive (EU) 2018/1972 of the European Parliament and of the Council 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 apply:

1. ‘digital euro’ means the digital euro as defined in Article 2, point (1) of Regulation (EU) .../...*;

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

3. ‘digital euro payment service’ means digital euro payment service as defined in Article 2 point (8) of Regulation (EU) .../...**;

4. ‘residing’ means being legally resident within the meaning of Article 2, point (2), of Directive 2014/92/EU of the European Parliament and of the Council;

5. ‘visitor to the euro area’ means a visitor to the euro area as defined in Article 2, point (22), of Regulation (EU) .../...***;

▌

6. ‘mobile device’ means a mobile device as defined in Article 2, point (31), of Regulation (EU) .../...*.

6a. ‘credit institution’ means a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 of the European Parliament and of the Council.

Article 3 Provision of digital euro payment services

Within the framework of Directive (EU) 2015/2366, payment service providers incorporated in Member States whose currency is not the euro may, in accordance with the framework laid down in Regulation (EU) .../...**, provide any of the digital euro payment services referred to in Annex I to that Regulation to:

(a) natural or legal persons residing or established in ▌Member States whose currency is the euro;

(b) natural or legal persons no longer residing or established in Member States whose currency is the euro, but who opened a digital euro payment account at the time they were residing or were established in those Member States▌;

(c) visitors to the euro area;

(d) natural or legal persons residing or established in Member States whose currency is not the euro, subject to the conditions laid down in Article 18 of Regulation (EU) .../...***;

(e) natural or legal persons residing or established in third countries, including territories under a monetary agreement with the ▌Union, subject to the conditions laid down in Articles 19 and 20 of Regulation (EU) .../...****;

(ea) natural or legal persons residing or established in Member States whose currency is not the euro, or in third countries, where those natural or legal persons exercise their free movement rights in a Member State whose currency is the euro;

(eb) citizens of third countriesy that benefit from a specific arrangement creating free movement rights in a part of the Union.

The European Central Bank may restrict access to and use of the digital euro by the digital euro users referred to in the first subparagraph, points (b) and (c), of this paragraph, subject to the conditions laid down in Article 16 of Regulation (EU) .../... *.

Within the framework of Directive 2015/2366, payment service providers may provide merchants residing or established in a Member State whose currency is not the euro, or in a third country, digital euro payment services allowing them to receive digital euro payment transactions from the persons referred to in the first subparagraph of this paragraph, even if the conditions referred to in Articles 18, 19 and 20 of Regulation (EU) .../...** have not been met, subject to the applicable national law of that Member State or third country.

2. A credit institution incorporated in a Member State whose currency is not the euro shall, upon the request of a client who is a natural person as referred to in Article 13(1), point (a), of Regulation (EU) .../...***, provide that natural person with the basic digital euro payment services referred to in Annex II to Regulation (EU) .../...**** where all of the following conditions are met:

(a) that credit institution provides payment services as referred to in point (1), (2) or (3) of Annex I to Directive (EU) 2015/2366 to natural persons residing in a Member State whose currency is the euro;

(b) that credit institution, provides the services listed in point (a) of this paragraph to more than 400 000 natural persons residing in the euro area as a whole or to 5 % of natural persons residing in a single Member State whose currency is the euro, for three consecutive years; and

(c) that natural person does not hold a payment account, as defined in Article 2, point (3), of Directive (EU) 2014/92, with any payment service provider that provides mandatory digital euro payment services in accordance with Regulation (EU) .../...*****.

3. A credit institution incorporated in a Member State whose currency is not the euro that is subject to the obligations set out in paragraph 2 may, for the purpose of fulfilling those obligations, refer clients who are entitled to receive the services referred to in that paragraph and who request those services, to a branch or subsidiary of that credit institution located in a Member State whose currency is the euro. Such referral shall be deemed to fulfil the obligations set out in paragraph 2.

4. A credit institution incorporated in a Member State whose currency is not the euro that fulfilled the conditions set out in paragraph 2 but which has not fulfilled those conditions for three consecutive years shall not be required to provide a new client, who is a natural person as referred to in Article 13(1), point (a) of Regulation (EU) .../...*, upon that client’s request, with the basic digital euro payment services referred to in Annex II to that Regulation.

Clients who already hold a digital euro payment account with the credit institution concerned shall retain the right to continue receiving the basic digital euro payment services referred to in Annex II to Regulation (EU) .../...**.

Article 3a

Provision of digital euro acquiring services

Payment service providers incorporated in a Member State whose currency is not the euro shall comply with Article 14(1a) of Regulation (EU) .../...*** in respect of their clients established in Member States whose currency is the euro who are payees subject to the mandatory acceptance of the digital euro within the meaning of Article 7(3) of that Regulation, insofar as those payment service providers already provide those clients with acquiring services for comparable means of payment.

Article 3b

Assessment of potential impact on national currency usage

Member States whose currency is not the euro shall each designate a competent authority to monitor and assess the potential impact of the use of the digital euro on its national currency.

Competent authorities designated pursuant to the first subparagraph shall report to the Commission and to the European Central Bank every three years.

Where the digital euro is used in a Member State whose currency is not the euro alongside its national currency (‘euroisation’) and such use exceeds 10 % of cross-border retail payments in that Member State, the report referred to in the second subparagraph of this paragraph shall include a recommendation to temporarily suspend, for a period of six months, the application of Article 3(1), third subparagraph.

Article 4 Applicable law

1. Without prejudice to the provisions of this Regulation, the requirements laid down in Article 13, ▌Chapter V, Article 18, Chapter VII, Chapter VIII and Chapter IX of Regulation (EU) .../...* 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 3(1) and (2) of this Regulation.

The requirement laid down in Article 33 of Regulation (EU) .../...** shall be applicable to original equipment manufacturers of mobile devices and providers of electronic communication services within the meaning of Article 2(1) of Directive (EU) 2018/1972 established in Member States whose currency is not the euro.

2. In accordance with Article 4(25) of Directive (EU) 2015/2366▌, the provisions of that Directive shall apply to payment transactions in digital euro.

3. In accordance with Article 2(10) of Regulation (EU) 2021/1230 ▌, the provisions of that Regulation shall apply to payment transactions in digital euro.

4. Without prejudice to Articles 37 of Regulation .../...***, Regulation (EU) 2023/1113 and Directive (EU) 2015/849 of the European Parliament and of the Council ▌shall apply with respect to the digital euro.

Article 5 Competent authorities

1. 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 the 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) .../...****.

2. Directive (EU) 2015/849 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 incorporated in Member States whose currency is not the euro established in relation to the digital euro for the purpose of applying this Regulation and the obligations contained in Chapter IX of Regulation (EU) .../...*.

Article 6 Cooperation with the European Central Bank

For the purposes of supervising the application of Chapters IV, V and VII of Regulation (EU) .../...** the competent authorities referred to in Article 5(1) shall, where appropriate, cooperate with the European Central Bank.

Article 6a

Amendment to Regulation (EU) No 910/2014

In Article 5a(7) of Regulation (EU) No 910/2014, the following subparagraph is added:

“Where a provider of a European Digital Identity Wallet allows for the integration and use of payment instruments, that provider shall ensure effective interoperability and provide fair, reasonable, and non-discriminatory access to payment service providers distributing the digital euro, including to the European Digital Identity Wallet’s hardware and software features that are essential for the secure processing and execution of online and offline digital euro payment transactions via that European Digital Identity Wallet.”

Article 7 Amendment to Regulation (EU) 2021/1230

In Article 2 of Regulation (EU) 2021/1230 of the European Parliament and of the Council, point (10) is replaced by the following:

“(10) ‘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 For the Council

The President The President

ANNEX: DECLARATION OF INPUT

Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur declares that he included in his report input on matters pertaining to the subject of the file that he received, in the preparation of the report, prior to the adoption thereof in committee, from the following interest representatives falling within the scope of the Interinstitutional Agreement on a mandatory transparency register, or from the following representatives of public authorities of third countries, including their diplomatic missions and embassies:

1. Interest representatives falling within the scope of the Interinstitutional Agreement on a mandatory transparency register

AEBANCA

ABANCA

Association of Credit Card Issuers Europe

Association of German Banks

ATM Industry Association

Banco de España

Banco Santander

Bankinter

BBVA

BEUC

Bitpanda

Bizum

Blockchain for Europe

BNP Paribas

Bundesbank

Bundesverband der Deutschen Volksbanken und Raiffeisenbanken e. V. / National Association of German Cooperative Banks

Caixa Bank

Cash alliance

Cecabank

Chair of the European DataWarehouse

Circle Internet Financial

Commissioner for Economy and Productivity; Implementation and Simplification

Commissioner for Financial Services and the Savings and Investments Union

Crédit Agricole

Deutsche Bank

Dutch Banking Association

Dutch Central Bank President

Dutch Ministry of Finance

Ecommerce Europe

Erste Group

EuroCommerce

European Association of Co-operative Banks

European Association of Corporate Treasurers

European Banking Authority

European Banking Federation

European Central Bank

European Fintech Association

European Mobile Payments Association (EMPSA)

European Payment Institutions Federation

European Payments Alliance

European Payments Initiative

FBF (French Banking Federation)

Finance Watch

Financial Unit at the Permanent Representation of the Slovak Republic to the EU

French Treasury

German Banking Industry Committee

German Federal Ministry of Finance

Inditex

International Security League

Intesa Sanpaolo

Irish Presidency of the Council

Italian Banking Association

Kangaroo Group

KPMG

Mastercard

Member CDU/CSU

Mercadona SA

National Bank of Belgium

Nordea Bank AB

Oesterreichische Nationalbank (OeNB)

Permanent Representation of Spain in the European Union

Plataforma Denaria

President of the Eurogroup

President of the Eurogroup Working Group

Revolut

Satispay

Sociedade Interbancária de Serviços

Société Générale

Sparkassen-Finanzgruppe

Swift

The European Digital Payments Industry Alliance: EDPIA

UniCredit

Visa

World Savings and Retail Banking Institute / European Savings and Retail Banking Group

2. Representatives of public authorities of third countries, including their diplomatic missions and embassies

Bank of England

The list above is drawn up under the exclusive responsibility of the rapporteur.

Where natural persons are identified in the list by their name, by their function or by both, the rapporteur declares that he has submitted to the natural persons concerned the European Parliament's Data Protection Notice No 484 (https://www.europarl.europa.eu/data-protect/index.do), which sets out the conditions applicable to the processing of their personal data and the rights linked to that processing.

PROCEDURE – COMMITTEE RESPONSIBLE

Title

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

References

COM(2023)0368 – C9-0214/2023 – 2023/0211(COD)

Date submitted to Parliament

29.6.2023

Committee(s) responsible

Date announced in plenary

ECON

11.9.2023

Rapporteurs

Date appointed

Fernando Navarrete Rojas

16.12.2024

Discussed in committee

5.11.2025

29.1.2026

Date adopted

23.6.2026

Result of final vote

+:

–:

0:

43

9

6

Date tabled

26.6.2026

FINAL VOTE BY ROLL CALL BY THE COMMITTEE RESPONSIBLE

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