The European Commission, the executive body of the European Union, intends to develop uniform standards for companies working in the blockchain field. Writes about this Reuters with reference to the documents at his disposal. The Commission is expected to announce its plans this week..
EU will present uniform standards for blockchain companies
According to the information provided in the document, European legislators intend to develop uniform rules for crowdfunding for all EU countries, which will solve the problem of selective and heterogeneous regulation applied in some countries of the block.
“The EU regulatory framework will offer a European passport and at the same time ensure that platforms are properly managed and investor money is protected,” the document says..
Among other things, the proposal provides for the introduction of licensing for crowdfunding platforms at the pan-European level.
The Commission also intends to analyze the rules in force in the EU to determine whether any of them are suitable for regulating cryptocurrencies and ICOs. It is expected that both various regulators and industry representatives will be involved in the process of forming a unified regulatory framework..
Among other things, they will discuss the issue of resilience of fintech companies to hacker attacks, as well as analyze the costs and benefits of “testing cyber threats” for the leading market participants that form the financial infrastructure of the EU.
Until the fourth quarter current year The commission expects to present a plan of regulatory sandboxes that will allow fintech companies to test their products on real customers. To date, such sites operate only in 13 of the 28 EU member states.
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