pc
nid 91592
Mar 31, 2026
reprocess@vixio.com
Spain
Bank of Spain
financial services
75% of draft length
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1760 charsSpain's Bank Publishes Guidance on Crypto-Asset Service Provider Authorization Requirements Under Payment Services Directive
On March 30, 2026, the Banco de España (Bank of Spain) published guidance reminding crypto-asset service providers that they must obtain authorization as payment service providers under the revised Payment Services Directive (PSD2) to offer payment services using electronic money tokens (EMTs).
The guidance clarifies that crypto-asset service providers offering EMT payment services are subject to PSD2 authorization requirements. The Bank of Spain notes that it previously communicated this requirement in July 2025 and January 2026. For providers that were already offering such services prior to the announcement, the authorization application deadline was March 2, 2026. The Bank of Spain emphasizes that affected crypto-asset service providers must review two European Banking Authority (EBA) documents: a no-action letter issued on June 10, 2025, and Opinion EBA/OP/2026/01 published on February 12, 2026. Providers are required to assess their operational circumstances against the scenarios outlined in these documents and implement any applicable measures or restrictions accordingly.
Crypto-asset service providers should consult Opinion EBA/OP/2026/01 for detailed guidance on compliance obligations. Those that have not yet submitted authorization applications under PSD2 should do so immediately to ensure compliance with Spanish regulatory requirements. The Bank of Spain's announcement applies to all crypto-asset service providers operating in Spain offering EMT payment services.
REFERENCES:
Banco de España. "Los proveedores de servicios de criptoactivos necesitan autorización bajo la PSD2 para prestar servicios de pago con fichas de dinero electrónico (EMTs)." March 30, 2026. Available at: https://www.bde.es/bde/en/secciones/prensa/
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1313 charsBanco de España Publishes Reminder of End of Transitional Period for CASPs Obtaining Authorisation Under PSD2
On March 30, 2026, Banco de España published a notice announcing that the transitional period for crypto-asset service providers (CASPs) providing electronic money token (EMT) payment services ended on March 2, 2026. This period was intended to allow CASPs to obtain authorisation under Directive (EU) 2015/2366 (the revised Payment Services Directive - PSD2).
The deadline to apply for authorisation as a payment service provider expired on March 2 for CASPs offering payment services with EMTs. Affected CASPs are encouraged to take note of the European Banking Authority’s (EBA) opinion , published on February 12 2026, and to assess their operational scenario in order to adopt any applicable measures or restrictions.
CASPs that have not submitted an application by the deadline, or that have submitted but have not met one or more of the conditions, must:
Cease the activity of providing EMT services that qualify as a payment service under PSD2.
Offboard clients of EMT services that qualify as a payment service under PSD2.
CASPs that have submitted an application, but have not yet received authorisation, may continue to carry out EMT transactions that qualify as payment services pending the competent authority’s decision on the application, provided that they meet the conditions set by the EBA.