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(17) |
The digital euro should have legal tender status for offline digital euro payment |
transactions occurring within in the euro area, similarly to euro banknotes and coins |
which have legal tender status in the euro area. The digital euro should also have legal |
tender status for online digital euro payment transactions made to a payee residing or |
established in the euro area, where the payer is also residing or established in the euro |
area. Similarly, the digital euro should have legal tender status for online digital euro |
payment transactions made to a payee residing or established in the euro area, where |
the payer is not residing or established in the euro area. |
(18) |
Since the digital euro requires the capacity to accept digital means of payment, |
imposing an obligation of mandatory acceptance of payments in digital euro on all |
payees could be disproportionate. To this end, exceptions to the mandatory acceptance |
of payments in digital euro should be provided for natural persons acting in the course |
of a purely personal or household activity. Exceptions to mandatory acceptance should |
also be provided for microenterprises, which are particularly important in the euro area |
for the development of entrepreneurship job creation and innovation, playing a vital |
role in shaping the economy. Union policies and actions should reduce regulatory |
burdens for enterprises of this size. Exceptions to mandatory acceptance should also |
be provided for non-profit legal entities which promote the public interest and serve |
the public good performing a variety of goals of societal interest, including equity, |
education, health, environmental protection and human rights. For microenterprises |
and non-profit legal entities, the acquisition of the required infrastructure and the |
acceptance costs would be disproportionate. They should therefore be exempted from |
the obligation to accept payments in digital euro. In such cases, other means for the |
settlement of monetary debts should remain available. Nevertheless, microenterprises |
and non-profit legal entities that accept comparable digital means of payment from |
payers should be subject to the mandatory acceptance of payments in digital euro. |
Comparable digital means of payment should include debit card payment or instant |
payment or other future technological solutions used at the point of interaction, but |
should exclude credit transfer and direct debit that are not initiated at the point of |
interaction. Microenterprises and non-profit legal entities that do not accept |
comparable digital means of payment from their payers in settlement of a debt (e.g. |
they only accept euro banknotes and coins), but may use digital payments in |
settlement of a debt to their payees (e.g. they pay with credit transfers), should not be |
subject to the mandatory acceptance of payments in digital euro. Finally, a payee may |
also refuse a payment in digital euro if the refusal is made in good faith and if the |
payee justifies the refusal on legitimate and temporary grounds, proportionate to |
concrete circumstances beyond its control, leading to an impossibility to accept |
payments in digital euro at the relevant time of the transaction, such as a power outage |
in the case of online digital euro payment transactions, or a defective device in the |
case of offline or online digital euro payment transactions. |
(19) |
In order to ensure that additional exceptions to the mandatory acceptance of the digital |
euro may be introduced at a later stage if they are required, for example due to |
technical specificities that may appear in the future, the power to adopt acts in |
accordance with Article 290 of the Treaty on the Functioning of the European Union |
should be delegated to the Commission in respect of the introduction of additional |
exceptions of a monetary law nature to the obligation to accept digital euro payment |
transactions, which would apply in a harmonised way across the euro area, taking into |
account any proposals from Member States to this end. The Commission may only |
adopt such exceptions if they are necessary, justified on grounds of general interest, |
proportionate, and preserve the effectiveness of the legal tender status of the digital |
euro. The power of the Commission to adopt delegated acts for the introduction of |
additional exceptions to the obligation to accept digital euro payment transactions |
should be without prejudice to the possibility for Member States, pursuant to their own |
powers in areas of shared competence, to adopt national legislation introducing |
exceptions to the mandatory acceptance deriving from the legal tender status in |
accordance with the conditions laid down by the Court of Justice of the European |
Union in its judgment in Joined Cases C-422/19 and C-423/19. |
(20) |
In order to ensure that people and businesses benefit from a wide acceptance network |
and are able to effectively use the digital euro in their day-to-day payments, payees |
who are subject to the mandatory acceptance of payments in digital euro should not |
unilaterally exclude payments in digital euro through contractual terms that have not |
been individually negotiated or commercial practices. |
(21) |
The main objective of the establishment of the digital euro is its use as a form of the |
single currency with legal tender in the euro area. For this purpose and in line with the |
Agreement on the European Economic Area, digital euro users residing or established |
in the euro area, including consumers with no fixed address, asylum seekers and |
consumers who are not granted a residence permit but whose expulsion is impossible |
for legal or factual reasons, may be provided digital euro payment services by PSPs |
established in the European Economic Area. Natural and legal persons who were |
already receiving digital euro payment services, because they opened a digital euro |
payment account at the time they resided or were established in a Member State whose |
currency is the euro, but no longer reside or are established in such Member State, |
may still receive digital euro payment services by payment service providers |
established in the European Economic Area, in line with the Agreement on the |
European Economic Area, subject to possible time limitations in relation to the status |
of residence or establishment of these persons that the European Central Bank may |
define. |
(22) |
In accordance with Directive 2015/2366 of the European Parliament and the Council, |
the notion of ‘funds’ means banknotes and coins, scriptural money or electronic |
money. As a new form of central bank money with legal tender, the digital euro should |
be considered as funds under Directive 2015/2366. It should be ensured that payment |
service providers distributing the digital euro should be subject to the requirements |
laid down in this Directive as transposed by Member States and supervised for this |
purpose by the competent authorities referred to in this Directive as well. When |
issuing the digital euro, the European Central Bank and national central banks of the |
Member States whose currency is the euro, as part of the Eurosystem, would be acting |
in their capacity as monetary authority and should therefore not subject to Directive |
2015/2366 in accordance with Article 1(e) of that Directive. |
(23) |
Digital euro payment accounts are a category of payment accounts denominated in |
euro through which digital euro users are able to carry out inter alia the following |
transactions: place funds, withdraw cash and execute and receive payment transactions |
to and from third parties, irrespective of the technology used and the structure of the |
ledger or of the data (e.g. whether digital euros are recorded as holding balances or |
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