European Parliament releases study proposing new approaches for dealing with crypto gray areas
A recent report titled “Crypto-Assets - key developments, regulatory concerns and responses” scrutinizes crypto-assets from a legal perspective, and was requested by the European Parliament's Committee on Economic and Monetary Affairs.
How blockchain technology could change our lives
This report provides an accessible entry point for those in the European Parliament and beyond who are interested in learning more about blockchain development and its potential impacts. In doing so, the aim is to stimulate reflection and discussion of this complicated, controversial and fast-moving technology. The report is non sequential, so readers are invited to choose the sections that interest them and read them in any order. The section immediately below presents an introduction to how blockchain technology works. The subsequent eight sections each present two-page briefings about how it could be deployed in various application areas, its potential impacts, and its implications for European policy. Finally, a concluding section presents some overall remarks and potential responses to blockchain development.
Draft Report on Virtual Currencies – Committee on Economic and Monetary Affairs
This report, authored by European Parliament member (MEP) Jakob von Weizsäcker of the Committee on Economic and , calls for the creation of a horizontal Task Force DLT to be set up under the leadership of the Commission.
EBA Opinion on âvirtual currenciesâ
The European Banking Authority (EBA) published an Opinion addressed to the EU Council, European Commission and European Parliament setting out the requirements that would be needed to regulate âvirtual currencies'. The report continues by identifying the main risks arising from VCs, separated into risks arising to individuals, to other market participants, to financial integrity, to existing payment systems in conventional FCs, and to regulatory authorities. Each of the 70 risks identified is tentatively prioritised based on indicative judgements of the probability of their materialisation and the impact of this materialisation. The causal divers are also identified for each risk, as these will indicate the regulatory measures that would be required to mitigate the risk drivers.
