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electronic money

as defined in Directive 2000/46/EC of the European Parliament and of the Council of 18…, Article 1(3), point (b)

monetary value as represented by a claim on the issuer which is: (i) stored on an electronic device; (ii) issued on receipt of funds of an amount not less in value than the monetary value issued; (iii) accepted as means of payment by undertakings other than the issuer.

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