Overview
- The ECB opened applications on March 19 for two expert workstreams under its Rulebook Development Group.
- One workstream will draft implementation specifications for ATM and payment terminal providers, including offline capability and alignment with European standards.
- A second workstream will design certification and approval frameworks to govern how providers test and deploy payment solutions.
- The groups will report to a multistakeholder Rulebook Development Group that includes merchants, payment service providers and consumer representatives.
- The ECB says the draft rulebook will be updated to reflect the EU legislative process and that any issuance decision would follow adoption of a legislative act, while it continues to warn about risks from euro-denominated stablecoins.