safeguarding account

Definitions over time (1)

11/06/2025 – today applies on 12/11/2026 Article 1, Decision (EU) 2025/222 of the ECB Scope: Whole act

For the purposes of this Decision, the following definitions apply:

‘safeguarding account’ means a separate account in either a credit institution or, at the discretion of a Eurosystem central bank, in that central bank, that is opened by either: a non-bank payment service provider to ensure the segregation of its clients’ funds from that non-bank payment service provider’s own funds, for the purposes of Article 10(1), point (a), of Directive (EU) 2015/2366; a crypto-asset service provider to ensure the safeguarding of the ownership rights of its clients and preventing the use of its clients’ funds for its own account, for the purposes of Article 70 of Regulation (EU) 2023/1114 of the European Parliament and of the Council (^{3});

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