Blockchain technology should be front and center of Europe's economic plans. The efficiency and cost reductions it can unlock would go a long way to repairing the EU's image as a place that buries startups in time-consuming and costly bureaucracy.
Europe’s ‘Digital Decade’ is kicking off with 41 regulators joining blockchain sandbox
When the Markets in Crypto Assets (MiCA) regulations passed in May 2023, the European Union became the first major jurisdiction to provide what the digital currency and blockchain industry have long been asking for: regulatory clarity.
While some lamented the EU’s regulations as being too burdensome or overly complex, the aim was never to please or facilitate the use cases that they had in mind. Instead, it was to foster government and enterprise use cases, ultimately helping usher in Europe’s ‘Digital Decade.’
It seems to be paying off. On September 30, The European Blockchain Sandbox Initiative (EBSI) announced that 41 regulators and 22 countries from the European Union and European Economic Area have joined the second cohort. Authorities from France, Spain, Italy, Belgium, The Netherlands, and many others are involved alongside companies working on various blockchain solutions.
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