Iceland Gets World's 1st E-Money Blockchain License

Law360, London (June 17, 2019, 7:25 PM BST) -- Iceland's financial regulator has awarded a Reykjavik-based firm the world’s first license allowing a company to issue digital money using blockchain technology under Europe's electronic money rules.

The Financial Supervisory Authority on Friday granted Monerium ehf a license to operate as an electronic money company. The regulator said its decision allows Monerium to issue digital fiat money on blockchains through its subsidiary, Monerium EMI ehf.

Monerium said Friday that the license is the first ever to allow a firm to use blockchain for electronic money transfers under the EU’s E-money Directive, which sets out rules for companies that facilitate cashless payments...

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