Electronic payments

Electronic payment systems

Are there any rules, restrictions or other relevant considerations regarding the use of electronic payment systems in your jurisdiction?

Book VII of the Code of Economic Law contains specific provisions relating to payment service providers. On a European level, the EU Payment Services Directive (2015/2366/EC) of 25 November 2015 puts in place comprehensive rules for payment services, with the goal of making international payments (within the European Union) as easy, efficient and secure as payments within a single country while taking into account emerging and innovative payment services, such as internet and mobile payments. The EU Payment Services Directive has been transposed into Belgian law by the Law of 11 March 2018, which also contains rules, restrictions and relevant considerations regarding the use of electronic payment systems in Belgium.

Virtual currencies

Are there any rules or restrictions on the use of virtual currencies (eg, Bitcoin)?

Currently, there are no specific rules or restrictions on the use of virtual currencies such as Bitcoin in Belgium. It is also not yet clear whether virtual currencies should be regarded as e-money in Belgium. Nevertheless, it is expected that the Belgian legislator will in the near future adopt specific regulation in the field of digital currencies and initial coin offerings in order to create trust, ensure transparency and protect consumers.