In accordance with the procedures for introducing the Euro as an official currency in Bulgaria, the state institutions are working on other related laws and regulations, step by step. Therefore, during the public consultations is introduced a draft regulation of the Law on Amendments and Supplements to the Law on Payment Services and Payment Systems, which proposes amendments that aim to prepare payment services and systems for the measures contained in the National Plan for the introduction of the euro in the Republic of Bulgaria.
Bill for Amendments and Supplements to the Law on Payment Services and Payment Systems in Bulgaria
Public
Bulgaria
Author: Nikolina Basić
Category:
Fiscal subject related
Views:
483
Content accuracy validation date:
13.09.2024
Content accuracy validation time:
10:55h
These changes adapt the national legal framework regulating payment supervision and the provision of payment services for the period after Bulgaria's accession to the Eurozone. The bill also includes amendments that introduce measures necessary for the implementation of Regulation (EU) 2023/606 (with a view to creating favorable conditions for the offering of shares or units of European long-term investment funds (ELIF) to non-professional investors) and Regulation (EU) 2024/886 (in order to ensure the provision of instant credit transfers in euros in an efficient and competitive manner). The draft law foresees other changes to refine the legal framework and ensure the effective implementation of payment supervision. Certain changes are proposed, BGN is changed with euro and other changes. The draft is in public consultation until the end of September 2024.
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