"The reasons that prompted public authorities to reserve deposit- taking to a specific category of institution should also apply to the issuers of electronic purses. . . . If corporations other than credit institutions were to issue electronic purses, banking regulations (and) deposit guarantee schemes would not apply."

- European Monetary Institute, 1994

"Issuers of electronic money must be subject to prudential supervision; issuance must be subject to solid and transparent legal arrangements, technical security, protection against criminal abuse, and the reporting of monetary statistics; the possibility must exist for the central bank to impose reserve requirements on all issuers."

- European Central Bank, 1998

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