EU Blockchain Observatory of EC Publishes January-February Newsletter
The European Union Blockchain Observatory and Forum published its January-February 2020 newsletter, which covers the activities and events in EU on topics such as blockchain and artificial intelligence. This issue of the newsletter highlights the publication of thematic report on blockchain and the future of digital assets. It also highlights the publication of a report that provides an account of the use cases in a social impact workshop that was held recently in Barcelona.
The thematic report on blockchain and the future of digital assets focuses on the emerging world of blockchain-based digital assets in all its diversity and complexity. The report covers the background on digital assets, their promise, the challenges and issues they pose, and how policy makers and authorities are reacting to the rise of these assets. The report states that EU is focused more on the risks that arise from digital assets, to the detriment of the great opportunities that they bring. It suggests that authorities should continue their efforts to ensure the healthy growth of digital assets in a safe environment and this starts with providing legal certainty for these actors, which actually means greater clarity for regulators to supervise the digital asset ecosystem. The key recommendations of the report are to develop a harmonized understanding of digital assets, determine the legal treatment of digital assets, strengthen the synergy between public authorities and private actors, and clarify regulatory oversight.
Additionally, the newsletter highlights the following issues that caught the attention of community during these months:
- Bafin guidance notice on crypto tokens
- Legal guidelines for smart derivatives contracts (equities)
- Private international law aspects of smart derivatives contracts utilizing the distributed ledger technology
- Companies that are working on distributed ledger technology solutions for capital markets
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Keywords: Europe, EU, Banking, Insurance, Securities, Blockchain, Blockchain Observatory, Newsletter, Fintech, Regtech, Artificial Intelligence, EC
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