Changes from report parliamentary committee draft to report parliamentary committee draft

AddedArticle 37 – paragraph 6 – subparagraph 1 – introductory part: Transaction and holding limits shall take into account the need to prevent money laundering and terrorist financing while not unduly restricting the use of the offline digital euro as a means of payment. The Commission, when drawing up the delegated acts referred to in paragraph 5, shall take into account in particular the following:

AddedArticle 37 – paragraph 6 – subparagraph 1 – point a: (a) an assessment of the money laundering and terrorist financing threats, vulnerabilities and risks of the offline digital euro when funding and defunding their payment instrument and its risk profile when used in physical proximity or through a digital communication link between the payer and the payee;

AddedArticle 37 – paragraph 6 – subparagraph 1 – point c: (c) the objective of ensuring the usability and acceptance of the offline digital euro as a legal tender instrument.

AddedArticle 38 – title: Exercise of the delegation

AddedArticle 38 – paragraph 2: 2. The power to adopt delegated acts referred to in Articles 3, 11, 16, 34, 35, 36, 37 and 38 shall be conferred on the Commission for a period of five years from the date of entry into force of this Regulation. The Commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the five-year period. The delegation of power shall be tacitly extended for periods of an identical duration, unless the European Parliament or the Council opposes such extension not later than three months before the end of each period.

AddedArticle 38 – paragraph 3: 3. The power to adopt the delegated acts referred to in Articles 3, 11, 16, 34, 35, 36, 37 and 38 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.

AddedArticle 38 – paragraph 6: 6. A delegated act adopted pursuant to Articles 3, 11, 16, 34, 35, 36, 37 and 38 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of three months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by three months at the initiative of the European Parliament or of the Council.

AddedArticle 39: deleted / (deleted) / (deleted) / (deleted)

AddedArticle 40 – paragraph 1 – subparagraph 2 – introductory part: For that purpose, the European Central Bank shall report on the digital euro development and its effective use. The report shall cover the contribution of the European Central Bank in the implementation of the provisions of this Regulation, including on the following elements:

AddedArticle 40 – paragraph 1 – subparagraph 2 – point -a (new): (-a) the progress made in the Union payments landscape towards the creation of a pan-European sovereign retail payment instrument as referred to Article 3;

AddedArticle 40 – paragraph 1 – subparagraph 2 – point d a (new): (da) data on fraud, counterfeiting and double spending and its comparison with comparable means of payment or cash, where appropriate;

AddedArticle 40 – paragraph 1 – subparagraph 2 – point d b (new): (db) the level of disputes among payment service providers relating to the application of its Rulebook settled by the European Central Bank and a summary of the improvement of the Rulebook to improve the functioning of the digital euro.

Article 40 – paragraph 2: deleted / (deleted) / (deleted)

Change 15

RemovedArticle 40 – paragraph 3: deleted / (deleted) / (deleted)

AddedArticle 40 – paragraph 3 – introductory part: 3. One year after the first issuance of the digital euro and every three years thereafter, the Commission shall submit to the European Parliament and to the Council a report analysing the impact of the limits referred to in Article 16 on:

Change 16

ChangedArticle 40 – paragraph 4 – subparagraph 13 – point b: (b) the number of Digital Euro-a wallets(new): which(-a) havethe beenfinancial opened;stability;

Change 17

RemovedArticle 40 – paragraph 4 – subparagraph 1 – point d: (d) the number of Digital Euro wallets that have been opened by payment service providers referred to in Articles 14(2) and 14(3).

AddedArticle 40 – paragraph 3 – point b: (b) liquidity requirements laid down in Regulation (EU) 575/2013.

Change 18

ChangedAnnexArticle I40 – paragraph 1 –4– point a:b: (a)(b) enablingthe Digitalnumber Euroof usersdigital toeuro accessaccounts which have been opened and useoffline thedigital Digitaleuro Euro;devices distributed;

Change 19

RemovedAnnex I – paragraph 1 – point c: (c) managing Digital Euro users’ Digital Euro wallets;

AddedArticle 40 – paragraph 4– point d: (d) the number of digital euro payment accounts that have been opened by payment service providers referred to in Article 14(2) and (3);

RemovedAnnex II – paragraph 1 – introductory part: Basic Digital Euro payment services for consumers shall consist of:

AddedArticle 40 – paragraph 4 – subparagraph 2: (e) the proportion of applications that have been refused by payment service providers referred to in Article 14(2).

RemovedAnnex II – paragraph 1 – point a: (a) registering, managing and closing of a Digital Euro wallet;

AddedArticle 41 – paragraph 3: 3. By three years from the first issuance of the digital euro, the Commission shall submit to the European Parliament and to the Council a report on whether there is a sufficient and effective access to and acceptance of the digital euro in the euro area.

RemovedAnnex II – paragraph 1 – point b: (b) actual amount and transaction history covering a period of one year;

AddedArticle 41 – paragraph 3 a (new): 3a. By three years from the first issuance of the digital euro, the Commission shall submit a report on the effective use of the digital euro to the European Parliament and to the Council .

RemovedAnnex II – paragraph 1 – point c: (c) non-automated funding and defunding from a payment account denominated in euro;

AddedAnnex I: Offline digital euro payment services / Offline digital euro payment services consist of: / (a) enabling offline digital euro users to access and use the digital euro, without prejudice to possible limitations set by the Commission in accordance with Articles 16 and 37; / (b) enabling digital euro users to initiate and receive offline digital euro payment transactions; / (c) providing, maintaining and life-cycle management of offline digital euro devices including secure distribution and updates to the software controlling the secure element;

RemovedAnnex III – point 1 – point iii: (iii) information on Digital Euro wallets; including information on Digital Euro holdings of the Digital Euro user and the unique Digital Euro wallet identification number; and

AddedAnnex I a (new): ANNEX Ia / Online digital euro payment services / Online digital euro payment services consist of: / (a) enabling online digital euro users to access and use the digital euro, without prejudice to possible limitations set by the Commission in accordance with Article 16; / (b) enabling online digital euro users to initiate and receive digital euro payment transactions and providing digital euro users with digital euro payment instruments; / (c) managing digital euro users’ online digital euro payment accounts; / (d) conducting funding and defunding operations in accordance with Article 13; and / (e) providing additional online digital euro payment services on top of basic digital euro payment services pursuant to Annex IIa.

RemovedAnnex III – point 1 – point iv: (iv) information on online Digital Euro payment transactions, including the transaction identification number and the transaction amount.

AddedAnnex II: Basic offline digital euro payment services / Basic offline digital euro payment services for natural persons shall consist of: / (deleted) / (aa) providing front-end services through an ECB interface; / (ab) regularly updating the ECB’s software for offline digital euro devices; / (b) consulting balances; / (c) manual funding and defunding from a non-digital euro account; / (ca) automatic defunding to a non-digital euro account for merchants; / (cb) funding and defunding from/into an online digital euro account; / (e) initiation and reception of offline digital euro payment transactions: / – person-to-person people offline digital euro payment transactions; / – point-of-interaction offline digital euro payment transactions, including point-of-sale and e-commerce; / (deleted) / (deleted) / (deleted) / (deleted) / (ga) providing, maintaining and life-cycle managing offline digital euro devices including provisioning, secure distribution, updates to the software controlling the secure element in compliance with the technical and security standards set or certified by the European Central Bank.

RemovedAnnex III – point 1 – point iv: (iv) information on online Digital Euro payment transactions, including the transaction identification number and the transaction amount.

AddedAnnex II a (new): ANNEX IIa / Basic online digital euro payment services / Basic online digital euro payment services for natural persons shall consist of: / (a) opening, holding and closing of a digital euro payment account; / (b) providing front-end services through an ECB interface; / (c) regularly updating the ECB’s software for digital euro users; / (d) consulting balances and transactions; / (e) automatic funding and defunding online digital euro payment accounts held within the same payment services provider from a non-digital euro payment account; / (f) non-automated funding and defunding from a non-digital euro payment account; / (g) funding and defunding from/into an offline digital euro account; / (h) funding and defunding from/into cash; / (i) initiation and reception of online digital euro payment transactions by means of an electronic payment instrument, to the exclusion of conditional digital euro payment transactions other than standing orders, in the following use cases: / – person-to-person people digital euro payment transactions; / – point-of-interaction digital euro payment transactions, including point-of-sale and e-commerce; / (j) digital euro payment transactions referred to in Article 13(4); and; / (k) provision of at least one electronic payment instrument for the execution of digital euro payment transactions such as referred to in point (e).

Change 20

ChangedAnnex III – point 2 – point iii: (iii) information on Digitalonline Eurodigital wallet,euro payment accounts, including the unique Digitaldigital Euroeuro payment account number; and

Change 21

ChangedAnnex IV –III point 4 –3 point iii: (iii) informationi: on(i) Digitalthe Eurouser wallets,identifier, including the unique Digital Euro wallet identification number, Digital Euro holdingsname of the user, the holding limitoffline selecteddigital byeuro thedevice userholders; and the type of Digital Euro account.

Change 22

ChangedAnnex V – paragraphIII 1point –3 point i:ii: (i)(ii) information on Digitalthe Eurooffline wallets,digital euro device, including the uniqueidentifier Digitalof Eurothe accountoffline identificationdigital number;euro device.

Change 23

AddedAnnex IV point 1 point i: (i) information on online digital euro payment accounts, including the unique digital euro payment account number; and

AddedAnnex IV point 3: 3. For the purpose of point (c) of Article 35(1), processing shall be limited to the data required for counterfeit analysis of offline digital euro payment transactions: information on the offline digital euro device, including the offline digital euro device number.

AddedAnnex V point i: (i) information on online digital euro payment accounts, including the unique digital euro account identifier;