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Businesses to prepare to accept digital wallets as Council of the EU adopts digital ID framework

( March 26, 2024, 10:33 GMT | Official Statement) -- MLex Summary: A broad range of private enterprises must now prepare to accept European Union Digital Wallets as the Council of the EU formally adopted the legal framework for European digital identity (eID) today, the final legislative step. Companies anywhere in the EU spanning insurance, financial services, energy, banking, transport, telecommunications and postal services must be able to accept digital identities held in digital wallets issued to people anywhere in the bloc. The wallets must be free for people to use, even cross-border. Companies must be able to accept them by 2027, depending on the progress of implementing acts. The framework updates the eIDAS 2014 regulation on digital identity. It will be published in the Official Journal of the EU in the coming weeks and will be fully in effect 20 days later.Statement follows:...

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