E-money Under French LawElectronic money – or e-currency – consists of an electronic message, issued by a bank or other organization, stored on an electronic device, which is accepted as a means of payment. Under French law, the issuance of any type of currency – including e-money – is subject to the monopoly of credit institutions. In Europe, a framework has been adopted that regulates the activity of e-money institutions.
The following questions have been addressed in this article:How does e-money work?
What is the legal definition of e-money?
How is electronic money regulated?