Page 19 - March 2018 Disruption Report

BLOCKCHAIN JAMNAURACRHY 22001188
The Action Plan sets out 23 steps to accomplish the following main objectives: enabling innovative business models to reach a European scale (based on a consistent licensing regime), supporting innovations and implementation of new technologies in the nancial sector, and increasing its integrity and security.
Among the initiatives are:
• A proposal for an EU Regulation on investment-based and lending- based crowdfunding service providers (ECSP) for business. The regulation aims to set an appropriate and proportionate framework enabling crowdfunding platforms to operate cross-border under a comprehensive passporting regime and uni ed supervision;
• An EU Public Blockchain initiative of the European Commission to develop a comprehensive strategy for implementation of distributed ledger technologies in all sectors of the economy, considering the associated legal implications;
• A public consultation on further digitalization of regulated information about companies listed on EU regulated markets, considering a possible establishment of a European Financial Transparency Gateway based on distributed ledger technology; and
• Hosting an EU FinTech Laboratory, which will serve as a platform for neutral exchange among European and national authorities with technology providers.
As part of the Action Plan, in February 2018, the European Commission launched an
EU Blockchain Observatory and Forum, as well as a feasibility study of an EU public blockchain infrastructure to develop cross-border services. As part of its efforts to evaluate legal, governance issues, any scale-up opportunities and in attempt to support “interoperability and standardization” across Europe, the European Commission will continue the work on further possible implementations of distributed ledger technologies in the second quarter of 2018. It will utilize cooperation with standard-setting bodies, as well as other international authorities and organisations to attain its objectives.
Digital assets and initial coin offerings (ICOs) also attracted the focus of the European Commission. Together with the European Supervisory Agencies, the European Central Bank and the FSB, the European Commission will continue monitoring the developments in
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