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🇱🇺 Luxembourg

Financial-centre jurisdiction attracting institutional custody, prime brokerage and settlement players (Clearstream, Coinbase, Standard Chartered) under CSSF's CASP regime.

Crypto (CASP) E-Money (EMI)
Last verified 2026-07-03 Next review 2026-07-17

Data verified: oldest cell 1 day ago (verified 2026-07-02). Individual cells show their own verification date below.

Licence type

Electronic Money Institution (EMI) authorisation under the Law of 10 November 2009 on payment services, as amended by the Law of 20 July 2018 (transposing PSD2); this same law also transposed EMD2's e-money provisions. No prominent separate small-EMI regime; EMIs are typically authorised as full EMIs given Luxembourg's fund/institutional client base.

Verified 2026-07-02 Source: CSSF: https://www.cssf.lu/en/authorisation-procedure-payment-institution-or-electronic-money-institution-registration-aisp/

Regulator

Commission de Surveillance du Secteur Financier (CSSF)

Verified 2026-07-02 Source: CSSF: https://www.cssf.lu/en/payment-institutions-electronic-money-institutions-aisp/

Capital requirement 🔒

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Timeline to authorisation 🔒

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Application cost 🔒

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Passporting 🔒

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EMIs authorised 🔒

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Key restrictions 🔒

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Safeguarding 🔒

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Recent changes

PSD3/PSR: EU agreement reached Nov 2025, texts published April 2026, repealing EMD2 with EMIs becoming a 'payment institution authorised to issue e-money' sub-category; Luxembourg's payment services law will need amendment within the transposition window, with transitional relief (24 months, extendable to 30) for existing EMD2-authorised entities. CSSF also active on crypto/e-money-token overlap (MiCA e-money token issuer guidance).

Verified 2026-07-03 Source: Norton Rose Fulbright: https://www.nortonrosefulbright.com/en/knowledge/publications/cedd39c6/psd3-and-psr-from-provisional-agreement-to-2026-readiness ; CSSF: https://www.cssf.lu/en/issuers-of-e-money-tokens-emts/

Difficulty rating 🔒

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Informational only, not legal advice. Entries marked as placeholder or awaiting verification must not be relied on. Confirm all requirements with Luxembourg's regulator and qualified local counsel before acting.