On 26 February 2024, the Council of the EU issued a press release stating that it had adopted a proposed Regulation which will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries. The proposed Regulation amends Regulations (EU) No 260/2012 and (EU) 2021/1230 and Directives 98/26/EC and (EU) 2015/2366. The proposed Regulation enters into force 20 days after its publication in the Official Journal of the European Union.

Our earlier blogs on the proposed Regulation are here and here.