What licensing considerations apply when holding customer funds in an international peer-to-peer marketplace?

Asked May 5, 2016· 1 answer ·EMEA, Europe, United Kingdom, Western Europe

Faisal KhanAnswered May 5, 2016

You would need a UK E-Money License. Though you mimic an intermediary, the fact that a payment is made to your account, that is when you cross over into the territory of E-Money.

There are two types of E-Money Licenses, and they can be summaries as below:

E-Money Electronic Money Institutions (EMI)E-Money Directive UK Electronic Money Regulations (EMRs) EMEA Europe United Kingdom Western Europe

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