DEVELOPMENTS IN DUTCH CARIBBEAN FINANCIAL LAW
New ordinances and rules to be introduced in 2021
In Curacao and St. Maarten major changes are in the pipeline when it comes to regulatory legislation. In July 2020, the Central Bank (CBCS) launched a consultation round on the draft of three national ordinances and a regulation containing generally binding rules. The first draft concerns the supervision of payment service providers. In order to increase confidence in digital payment services, the draft provides for licensing requirements, substantive rules, oversight of systems, and enforcement and supervision by the CBCS. Promoting a better and more trusted market for card payments, Internet payments …
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