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Article (39): Amendment to Retail Payment Services and Card Schemes Regulation and Stored Value Facilities (SVF) Regulation

2/2024 Effective from 21/8/2024
1.A Person licensed under the Retail Payment Services and Card Schemes Regulation or Stored Value Facilities (SVF) Regulation with respect to Crypto-Asset, Virtual Asset Token or Virtual Asset activities shall cease to be licensed with respect to those activities under either Regulation following the end of the Transition Period.
2.The Retail Payment Services and Card Schemes Regulation shall not apply with respect to Crypto-Assets, Virtual Asset Tokens, Virtual Assets Service Providers or Virtual Asset Token Services (each as defined in the Retail Payment Services and Card Schemes Regulation), with effect from the end of the Transition Period.
3.The Stored Value Facilities (SVF) Regulation shall not apply with respect to Crypto-Assets, Virtual Assets or Virtual Asset Service Providers (each as defined in the Stored Value Facilities (SVF) Regulation), with effect from the end of the Transition Period.