The EU Law of Payments

This book provides an authoritative account of the legal and regulatory framework governing money, payments and their supporting infrastructures in the EU. It examines the evolving regulation of payment systems and service providers in the EU, including the process of money creation and the fundamental legal relationships involved. By analysing the landscape of cross-border payments, Athanassiou also addresses the question of how to best reduce some of their frictions and enhance their efficiency.

Key Features:

• Outlines the contents of the main pieces of EU legislation governing the operation of payment systems, the provision of payment services and the activities of intermediaries active in those fields
• Explores the current state of play and EU regulation of instant payments
• Examines the legal parameters and the effects of the eventual introduction of central bank digital currencies, both retail and wholesale, for the processing and settlement of retail and large-value payments alike
• Evaluates how novel payment instruments and methods, including stablecoins, tokenised deposits and virtual currencies, are impacting the EU’s payment ecosystems
• Provides insights into the future of payments, and the challenges for issuers and users of money

The EU Law of Payments is an essential read for financial legal practitioners advising on matters of EU payments law and regulation. It is also highly relevant for central bank staff working on market infrastructures, as well as policymakers and regulators in the EU Member States and beyond. Scholars and students with an interest in finance and banking law will also benefit from the book’s analysis and insights.