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E-money license #37

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Changaco opened this issue Jun 1, 2018 · 2 comments
Closed

E-money license #37

Changaco opened this issue Jun 1, 2018 · 2 comments

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@Changaco
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Changaco commented Jun 1, 2018

In light of liberapay/salon#232 we need to figure out once and for all whether or not it would be possible for Liberapay to get its own e-money emitter license.
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Changaco commented Jun 1, 2018

I have the answer, and it's "no". French law currently requires a minimum capital of 350k€ as a prerequisite to applying for an e-money emitter license (article 4 de l'arrêté du 2 mai 2013 portant sur la réglementation prudentielle des établissements de monnaie électronique).

@Changaco Changaco closed this as completed Jun 1, 2018
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Changaco commented Jun 2, 2018

Extra note: the €350k minimum is not specific to France, it's EU wide (article 4 of 2009/110/EC).

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