News
Looking good on your laptop
Published
Share
Share on facebook
Share on twitter
Share on linkedin
Share on email

eIDAS Regulation enters into force

The EU-wide legislation known as eIDAS is in force as of September 29, 2018.

Standing for ”Electronic Identification, Authentication and trust Services”, eIDAS is an EU regulation setting the standards for electronic identification trust services for electronic transaction in the European Single Market. The regulation aims to enhance trust in electronic transactions, and seeks to increase transparency, security, and standardisation in the EU’s internal market.

On September 28, 2019, the European Commission published a news article where the effects of the regulation and the statements of the Commission officials were summarised. Accordingly, a few of the opportunities presented by eIDAS include opening a bank account in the EU without being physically present, better reinforcement of the rules of the GDPR, and reducing the risks of data misuse via sharing only necessary information.

Read the official article here.

Find the full legislation text here.

Share this Article
Share on facebook
Share on twitter
Share on linkedin
Share on email
Related Insights
Featured
Amsterdam Fintech Week
Take a look at our yearly fintech festival, Amsterdam FinTech Week. Go on the dedicated website to check out the 2021 wrap up!
AMLD5 Guide
A source for consulting PSD2 legislation coupled with commentary, tips & tricks, applicability, in collaboration with our member law firms.