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liberapay / liberapay.org

Home of the non-profit organization that runs liberapay.com
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E-money license #37

Closed Changaco closed 6 years ago

Changaco commented 6 years ago

In light of https://github.com/liberapay/salon/issues/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.

Changaco commented 6 years ago

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 commented 6 years ago

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