A new package of regulatory proposals aims to expand supervision of payment intermediaries and crypto on-ramps. Here is what it means for merchants and how Paydex is preparing.
The draft legislation published this month extends licensing requirements to payment facilitators and introduces mandatory transaction reporting thresholds. Consultations run until the end of April, with the final text expected in the autumn.
Key changes in the proposal
- Uniform KYC standards for all payment intermediaries, including sub-merchant onboarding
- Real-time reporting of transactions above a set threshold
- Extended liability of payment providers for merchant compliance
- Clearer rules for stablecoin settlements
What merchants should do now
Most of the requirements are already part of our standard onboarding, so merchants processing through Paydex will not need to change anything. We recommend reviewing your refund and dispute policies and making sure your terms of service are up to date.
Regulation is not the enemy of growth. Unclear regulation is.
Our compliance team will publish a detailed guide once the final text is available. Subscribe to the Telegram channel to receive it first.