Council announcement of its General Approach about PSR and PSD3, 18 June 2025

On the 18^th of June 2025, the Council of the EU announced that it reached its General Approach on a Payment Services Regulation (PSR) and on a third Payment Services Directive (PSD3) amending the existing PSD2. The Council’s negotiating mandate aims to, among others, strengthen the anti-fraud aspects of the European Commission’s proposals, enhance transparency on payment card scheme fees and rules, and promote the introduction of technological safeguards to protect consumers. Both texts also contain provisions which cover crypto-related aspects, such as Article 2.2 (a1), (h1) and (l1) (Scope) and Article 67a (Payment transactions with electronic money tokens) of the PSR as well as for the PSD3, Article 3.3a (Applications for authorisation) and Article 13.2 (Granting of authorisation).

The agreement on the Council’s General Approach allows the presidency to start negotiating a final text with the European Parliament.