The Government of Andorra approved the draft of the law on the use of electronic money

The Government of Andorra approved the draft of the law on the use of electronic money. This law is a part of a monetary agreement with the European Union in the creation of a single payment space in the euro zone to stimulate competition, ensure equity of access, improve market transparency and create a common system of rights and obligations for operators and users of payment services.

Thanks to a single payment space, all transactions in euros between countries-participants are held according to the same rules, with the same speed of transaction and security.

The minister of Finance of Andorra, Jordi Cinca, believes that this law will become a key to full economic integration with the EU, will be useful both for consumers and companies and will promote the competition development.