Policy Briefs

27Feb
2026

Payment sovereignty without walls: the case for Europe’s multi-rail ecosystem

Published in: 
Policy Briefs
Author(s): 
Judith Arnal

The debate on European payment sovereignty has intensified amid geopolitical tensions and growing concerns about the dominance of non-EU card schemes.

29Jan
2026

The economic costs of restricting global stablecoins – and how to mitigate the risks

Published in: 
Policy Briefs
Author(s): 
Judith Arnal, Dr Matthew Osborne

While the EU has established a comprehensive framework for crypto-assets under the Markets in Crypto-Assets Regulation (MiCA), growing institutional scepticism towards multi-issu

26Nov
2025

Tackling the twin paradox of EU financial regulation

Published in: 
Policy Briefs

The Lamfalussy process has generated two opposing distortions.

30Oct
2025

Embedding financial competitiveness as a regulatory objective to boost Europe’s productivity

Published in: 
Policy Briefs
Author(s): 
Judith Arnal, Pablo Zalba, César Gurrea

Competitiveness has become the defining challenge for the European economy, but the EU’s financial system is still constrained by a regulatory framework focusing on stability and

08Oct
2025

Assessing regulatory approaches to gatekeeper participation in EU open finance

Published in: 
Policy Briefs
Author(s): 
Judith Arnal, Fredrik Andersson

The Financial Data Access Regulation (FIDA) is entering a decisive phase in negotiations. FIDA is the EU’s attempt to expand data portability in financial services.

11Sep
2025

Multi-issuance stablecoins and MiCA’s first real credibility test

Published in: 
Policy Briefs
Author(s): 
Judith Arnal

The EU’s Markets in Crypto-Assets Regulation (MiCA) is now the world’s most comprehensive regulatory framework for digital assets.

28Aug
2025

EU simplification will fail without better governance: Three necessary reforms to make sure it doesn’t fail

Published in: 
Policy Briefs
Author(s): 
Judith Arnal

The EU has long been seen as a global regulatory power, exporting its standards across the world through what’s commonly known as the ‘Brussels Effect.’ However, newer frameworks

18Jun
2025

How to ensure a safer future for retail payments: Aligning fraud prevention and accountability in the EU

Published in: 
Policy Briefs
Author(s): 
Judith Arnal

Retail payment fraud is a structural challenge that no longer falls solely within the remit of payment service providers (PSPs).

28May
2025

Unfit for purpose? The legal maze of credit scoring under EU law

Published in: 
Policy Briefs
Author(s): 
Judith Arnal

The rules on automated credit scoring in the EU are entering a phase of profound transformation.

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