European Crowdfunding Network Publishes Blockchain Study Analyzing Current Regulatory Environment

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November 2, 2020 Blockchain, Crypto, Digital Assets Regulations, Blockchain, Crypto, Digital Assets, Tokens, Meta, NFTs, Cyber Security, Hacks, Fraud Alerts, Privacy, Equity Crowdfunding, FinTech and Alternative Finance No comments

Crowdfund Insider | JD Alois | Nov 2, 2020

block - European Crowdfunding Network Publishes Blockchain Study Analyzing Current Regulatory Environment Following a big win at the European Commission in regards to the harmonization of investment crowdfunding rules, the European Crowdfunding Network (ECN) has published a report analyzing European blockchain regulation.

Crafted in partnership with the law firm of Denton’s, the ECN report reviews the European legal framework, including standards, policies, and directives, governing or related to distributed ledger technology (DLT)/ Blockchain solutions and applications.

See: Blockchain: legal and regulatory guidance report

The report notes that currently there is no legal framework pertaining to interoperability between EU Member States. However, on April 10, 2018, some EU Member States agreed to create the European Blockchain Partnership (EBP) and to establish a European Blockchain Services Infrastructure (EBSI) that seeks to support cross-border digital public services that incorporate high standards of security and privacy.

While the document states there are “no severe legislative gaps and regulatory needs within the existing legal framework of the EU regarding interoperability within the European Union, but given the expectation that DLT/Blockchain utilization will grow, there is a need for regulatory harmonization.

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