On Jul. 24, LTH PRL published changes to payment institutions law.
LTH PRL published Law XIV-2886 of Jul. 11, 2024, amending articles 5, 7, 18 and 29 of the Law XI-549 of Dec. 10, 2009 on payment institutions.
Follows LTH PRL Jun. 2024 amended the law on payment institutions, see #216749.
Also follows LTH MoF Jul. 2024, regulatory changes for crypto sector, see #219861.
Main Points
The current law is the 12th legal text that amended the initial law XI-549 of 2009.
Alignment of provisions with the EU Reg 2023/1113 on information accompanying transfers of funds and certain crypto-assets and amending Directive (EU) 2015/849.
Changes to internal procedures re AML prevention of the institutions under scope and of the intermediaries they may use; investigative competence for oversight authority.
Effectiveness
The law will enter into force on Dec. 30, 2024.
Regulators
LTH PRL
Entity Types
Bank; CU; IB; MG Orig; MSB
Reference
OG 2024-13495, 7/24/2024; Law XIV-2886, 7/11/2024; Law XI-549, 12/10/2009; MiCA Reg 2023/1114; TFR Reg 2023/1113; FinTech
