European CB will strengthen control over crypto payments

by in Cryptocurrency News

Digital euro

The leadership of the European Central Bank is not only working on the launch of the digital euro but also trying to tighten control over all types of cryptocurrency transactions.

This week, the regulator issued a press release announcing plans to include stablecoins and other digital assets in the regulatory framework used to control electronic payments.

This is the Transaction Tracking Set of Rules (PISA). Now this regulatory system will also be used to control the movement of funds in any digital currency, including bitcoin and stablecoins.

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The ECB wants to pay special attention to the analysis of the activity of crypto wallet owners who use tokens to pay for goods and services. Stablecoins will be equated to traditional means of payment.

The ECB requires crypto companies to complete the transition to a new reporting system by November 15 next year, the regulator's press center emphasized.