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.
